Net profit in the first half of the year exceeded 3 billion yuan for the first time, and both A-share and H-share Fuyao Glass strengthened
2024-08-07
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
On August 7, both A-share and H-share Fuyao Glass opened higher and ended higher. As of press time, A-share Fuyao Glass rose more than 3% to 44.32 yuan; Hong Kong-listed Fuyao Glass rose more than 6% to 41.6 Hong Kong dollars.
Yesterday, Fuyao Glass announced that the company's operating income in the first half of 2024 was 18.34 billion yuan, a year-on-year increase of 22.01%; the net profit attributable to shareholders of the listed company was 3.499 billion yuan, a year-on-year increase of 23.35%.
It is worth mentioning that this is the first time that Fuyao Glass’s net profit exceeded 3 billion yuan in the first half of the year, setting a historical high.
The semi-annual report shows that the company's main business is to provide complete solutions for safety glass and automotive accessories for various transportation vehicles. The main reason for the increase in operating income is that the company has increased its marketing efforts and the proportion of high value-added products has increased.
Fuyao Glass said that the current "electrification, networking, intelligence, and sharing" of automobiles have become the trend and trend of the development of the automobile industry, which has led to the integration of more and more new technologies into automobile glass, which has put forward new requirements for automobile glass and also provided new opportunities for the development of the automobile glass industry. The company is in a leading position in industry technology, which has brought structural opportunities for the company's automobile glass sales.
Minsheng Securities' latest research report points out that the company's global layout has entered a harvest period, and its global market share is expected to increase. High-value-added automotive glass products are gradually increasing in volume, and SAM's profitability will gradually improve. The company's second-quarter performance was strong, and its profit forecast was raised. It is expected that the net profit attributable to the parent company in 2024-2026 will be 7.243 billion yuan, 8.599 billion yuan, and 9.943 billion yuan, corresponding to EPS of 2.78 yuan, 3.29 yuan, and 3.81 yuan, and PE of 15 times, 13 times, and 11 times, respectively. The "recommended" rating is maintained.
(This article comes from China Business Network)
