CICC: Cuts FLAT GLASS (06865) target price by 20% to HK$8, maintains "outperform" rating
CICC expects FLAT GLASS to report a net loss of RMB830 million in 2026 and net profit of RMB430 million in 2027.
CICC issued a research report stating that, considering the uncertainty of capacity reductions on the supply side, it has cut the target price of FLAT GLASS (06865) by 20% to HK$8, maintaining an "outperform" rating. The bank expects the company to record a net loss of RMB830 million in 2026 and a net profit of RMB430 million in 2027. The report noted that FLAT GLASS's revenue for the first three quarters fell 23.12% year-on-year, with a net loss attributable to shareholders of RMB836 million.
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