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2020-07-02 16:40:08
FLAT GLASS (06865) expects 1H profit up 80.1%

(Infocast News) Flat Glass Group Co., Ltd. (06865) expects that the net profit for the half year ended 30 June 2020 will range from RMB420 million to RMB470 million, representing an increase in the range of RMB159 million to RMB209 million (or an increase in the range of 60.92% to 80.08%) as compared to the same period in 2019.

The expected substantial increase in net profit is mainly attributed to increase in sales volume of major solar glass, which was primarily driven by the increase in the production capacity as a result of the group’ business expansion and increased demand for the bi-facial dual-glass; the average selling price of solar glass is higher as compared to the same period in 2019; and the reduced production costs on certain raw materials and energy as well as the continuous improvements in production efficiency.

(WL)