FLAT GLASS (06865) announced its interim results for 2025, reporting revenue of approximately 7.737 billion yuan, representing a 27.66% year-on-year decrease. Net profit attributable to shareholders reached approximately 261 million yuan, down 82.58% compared to the same period last year. Basic earnings per share stood at 0.11 yuan.

The company's gross profit margin was 14.05%, declining 9.73 percentage points from 23.78% in the corresponding period of the previous year. The margin decline was primarily driven by narrowing gross margins in the solar glass business, with key factors including:

First, a temporary supply-demand imbalance in the industry combined with escalating trade barriers led to a significant year-on-year decline in average solar glass selling prices. While falling raw material and energy costs provided some offsetting effects, they were insufficient to fully compensate for the impact of price declines, resulting in compressed profit margins.

Second, the group implemented quality and efficiency enhancement measures through process upgrades and production efficiency optimization to continuously strengthen cost competitiveness, partially alleviating profitability pressure.

On the other hand, the engineering glass business achieved significant gross profit improvement in the first half of 2025 through strategic optimization of its product structure, partially offsetting the pressure from narrowing solar glass margins and providing strong support for the group's overall profit resilience.