CHINA GLASS (03300) issues profit warning, expecting annual losses not exceeding 5.8 billion yuan.

CHINA GLASS (03300) announced that the group is expected to record a loss of no more than 5.8 billion yuan as of December 31, 2025, for the year ending on that date, compared to a net loss of approximately 0.964 billion yuan for the year ending December 30, 2024, an increase of about 4.8 billion yuan. The loss is mainly due to: the profound adjustment of the domestic real estate market and the slowdown in the growth of the photovoltaic industry, the continuous weakening of demand in the domestic glass market, the imbalance of supply and demand in the industry, facing double pressure from prices and costs, causing a significant decrease in the gross profit margin of the group's domestic products, and leading to the suspension of production of some domestic glass production lines by the end of the year ending December 31, 2025, and thereafter. Based on the above reasons, the group has provisioned for impairment of approximately 4.6 billion yuan for some production lines after a comprehensive assessment of the market environment, the operating conditions of the production lines, and the management's future plans for the suspended production lines.