| 证券代码：601865 | 股票简称：福莱特 公告编号：2025-073 | | --- | --- | | 转债代码：113059 | 转债简称：福莱转债 | 福莱特玻璃集团股份有限公司 关于 2025 年第三季度业绩说明会情况的公告 二、本次说明会投资者提出的主要问题及公司回复情况 本次说明会上，公司就投资者提出的问题给予了回复，现将主要问题及回复 整理如下： 问题 1：公司本期整体业绩水平如何？ 回复：尊敬的投资者，您好，我司第三季度归属于上市公司股东的净利润为 3.76 亿元，和去年同期的-2.03 亿元相比，大幅提升。感谢您对我司的关注！ 问题 2：对未来的发展有何展望？有哪些具体的战略规划？ 回复：尊敬的投资者，您好，我司将继续专注主业，不断通过提质增效，精 细化管理，研发投入以及拓展海外布局等方面构建核心竞争力，感谢您对我司的 关注！ 问题 3：技术创新和产业升级方面有哪些举措？ 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 为便于广大投资者更全面深入地了解福莱特玻璃集团股份有限公司（以下简 称"公司"）2 ...

Core Viewpoint - The company announced a significant improvement in its third-quarter net profit, indicating a strong recovery and focus on core business operations [1] Financial Performance - The net profit attributable to shareholders for the third quarter reached 376 million yuan, a substantial increase compared to a net loss of 203 million yuan in the same period last year [1] Strategic Focus - The company plans to continue focusing on its main business by enhancing quality and efficiency through refined management practices [1] - There will be increased investment in research and development as well as technological innovation to improve product performance [1]

Group 1 - The company has technological reserves for TCO glass [1]

格隆汇11月19日丨福莱特(601865.SH)在互动平台表示，我司专注于光伏玻璃的生产和销售，暂未涉足 储能业务领域。 ...

格隆汇11月19日丨福莱特(601865.SH)在互动平台表示，我司拥有TCO玻璃的技术储备。 ...

Core Viewpoint - The company reported a decline in revenue and net profit for the first three quarters of 2025, but showed significant improvement in Q3, exceeding market expectations [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 12.464 billion yuan, a year-on-year decrease of 14.66%, and a net profit attributable to shareholders of 638 million yuan, down 50.79% year-on-year [1]. - In Q3 2025, the company realized revenue of 4.727 billion yuan, a year-on-year increase of 20.95% and a quarter-on-quarter increase of 29.22%. The net profit attributable to shareholders was 376 million yuan, turning profitable year-on-year and increasing 142.93% quarter-on-quarter [1]. Operational Insights - Q3 saw both volume and profit improve quarter-on-quarter, with an expected increase in photovoltaic glass sales driven by downstream component customers stocking up at lower prices, leading to a rapid decrease in inventory, which fell 38% quarter-on-quarter by the end of Q3 [1]. - The gross profit margin for Q3 was 16.8%, remaining stable quarter-on-quarter, with net profit per unit expected to improve [1]. - The recovery in profitability is attributed to several factors: the historical low prices of photovoltaic glass, rapid inventory reduction leading to price increases in September, lower raw material costs, and effective cost control measures [1][2]. Other Financial Metrics - The expense ratio during Q3 was 6.9%, a decrease of 0.6 percentage points quarter-on-quarter. Asset impairment losses were reversed by 80 million yuan, mainly due to the recovery in photovoltaic glass prices in September, positively impacting profits [2]. - By the end of Q3, construction in progress increased by 31.6% compared to the end of the previous year, primarily due to the construction of photovoltaic glass production lines in Anhui and Nantong, as well as cold repairs of the group's float glass production line [2]. Industry Outlook - The industry inventory has returned to a reasonable level, and with the expected rise in natural gas prices during the heating season, production costs are likely to be supported, leading to stable photovoltaic glass prices [2]. - The company maintains its leading position in the market despite competition from other firms like Jibang, with a steep cost curve and a focus on expanding overseas markets, which supports positive profit expectations [2].

每经AI快讯，光伏股集体走低，截至发稿，凯盛新能(01108.HK)跌3.94%，报4.15港元；新特能源 (01799.HK)跌3.14%，报8.03港元；信义能源(03868.HK)跌3.88%，报1.24港元；福莱特玻璃(06865.HK) 跌2.77%，报11.93港元；信义光能(00968.HK)跌2.72%，报3.57港元。 ...

Core Viewpoint - The solar energy stocks have collectively declined, with significant drops in share prices for various companies, indicating a challenging market environment for the sector [1] Company Performance - Kaisheng New Energy (01108) decreased by 3.94%, trading at HKD 4.15 - Xinte Energy (01799) fell by 3.14%, trading at HKD 8.03 - Xinyi Energy (03868) dropped by 3.88%, trading at HKD 1.24 - Flat Glass Group (06865) declined by 2.77%, trading at HKD 11.93 - Xinyi Solar (00968) decreased by 2.72%, trading at HKD 3.57 [1] Industry Insights - Tongwei Group's Chairman Liu Hanyuan emphasized the need for "silicon material storage" to address conceptual issues and promote self-discipline within the industry, suggesting that retaining some redundant capacity is essential to adapt to dynamic demand changes [1] - Liu believes that silicon material storage will not infringe on antitrust regulations, countering concerns regarding upstream consolidation [1] - Nomura's research report indicates that mid-term industry self-discipline could maintain high utilization rates, drive price recovery, and enhance profitability, although short-term challenges include high inventory levels and weak seasonal demand from downstream sectors [1] - The report forecasts a monthly decrease in polysilicon production by approximately 20,000 tons to 120,000 tons in November, with wafer production expected to drop by 5% to 57 GW and cell production anticipated to decline by 2% to 57 GW [1]

Group 1 - The solar stocks collectively declined, with notable drops in companies such as KaiSheng New Energy (-3.94%), XinTe Energy (-3.14%), and Xinyi Energy (-3.88%) [1] - Tongwei Group's chairman Liu Hanyuan emphasized the need for "silicon material storage" to address conceptual issues and promote self-discipline within the industry, suggesting that retaining some redundant capacity is essential to adapt to dynamic demand changes [1] - Nomura's report indicated that while mid-term self-discipline in the industry could maintain high utilization rates and drive price recovery, short-term challenges include high inventory levels and weak seasonal demand, leading to a decline in product prices [1] Group 2 - The report forecasts a monthly decrease in polysilicon production by approximately 20,000 tons to 120,000 tons in November, with wafer production expected to drop by 5% to 57 GW and cell production by 2% to 57 GW [1]

Group 1 - Morgan Stanley increased its stake in Fuyao Glass (601865) by purchasing 1.602 million shares at a price of HKD 13.0217 per share, totaling approximately HKD 20.8608 million [1] - Following the acquisition, Morgan Stanley's total shareholding in Fuyao Glass reached approximately 62.8214 million shares, representing a holding percentage of 14.22% [1]