FF304 翌日披露報表 (股份發行人 ── 已發行股本變動及/或股份購回) 表格類別： 股票 狀態： 新提交 公司名稱： 福萊特玻璃集團股份有限公司 呈交日期： 2024年5月17日 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市(註11) | 否 | | | 證券代號 (如於香港聯交所上市) | | 說明 | A股（上海证券交易所） | | | | | 發行股份 | (註6及7) | 股份數目 | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 (註4、6及7) | 每股發行價 (註1及7) | 上一個營業日 的每股收市價 (註5) | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | 於下列日期開始時的結存(註2) | 2024年5月15日 | 1,901,324,281 | | | | | | 1). | 購回股份(或其他證券)但沒有註銷 | 957,900 | 0.04 % | | | % | | 變動日期 | 2024年 ...

| 证券代码：601865 | 证券简称：福莱特 | 公告编号：2024-042 | | --- | --- | --- | | 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 关于董事会、监事会延期换届的提示性公告 董事会 二零二四年五月十八日 在公司新一届董事会及监事会换届选举工作完成之前，公司第六届董事会、 第六届监事会全体成员、董事会各专门委员会委员、高级管理人员及董事会聘任 的其他人员将依据法律法规和《公司章程》的有关规定继续履行相应职责。 公司董事会、监事会延期换届不会影响公司的正常运营。公司将积极推进董 事会、监事会的换届工作进程，并及时履行相应的信息披露义务。 特此公告。 福莱特玻璃集团股份有限公司 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。 福莱特玻璃集团股份有限公司（以下简称"公司"）第六届董事会、第六届 监事会的任期将于 2024 年 5 月 19 日届满。鉴于新一届公司董事会、监事会的换 届工作尚在筹备中，为保持相关工作的连续性和稳定性，公司董事会、监事会的 换届 ...

自 2023 年 7 月 13 日至 2023 年 9 月 6 日期间，公司实际控制人姜瑾华女士 和阮泽云女士通过上海证券交易所交易系统累计减持福莱转债 4,049,860 张，占 发行总量的 10.12%。具体内容详见公司于 2023 年 9 月 8 日在上海证券交易所网 站披露的《福莱特玻璃集团股份有限公司关于实际控制人减持公司 A 股可转换 公司债券的公告》（公告编号：2023-071）。 公司于 2024 年 5 月 15 日收到实际控制人阮洪良先生和阮泽云女士的通知， 自 2023 年 9 月 7 日至 2024 年 5 月 15 日期间，阮洪良先生通过上海证券交易所 交易系统累计减持福莱转债 150,000 张，占发行总量的 0.38%；阮泽云女士通过 上海证券交易所交易系统累计减持福莱转债 3,891,670 张，占发行总量的 9.73%。 具体变动明细如下： 经中国证券监督管理委员会证监许可[2022]664 号文《关于核准福莱特玻璃 集团股份有限公司公开发行可转换公司债券的批复》核准，福莱特玻璃集团股份 有限公司（简称"公司"）于 2022 年 5 月 20 日向社会公众公开发行了 4,00 ...

| 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市(註11) | 否 | | | 證券代號 (如於香港聯交所上市) | | 說明 | | A股（上海证券交易所） | | | | | 發行股份 | (註6及7) | 股份數目 | | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 (註4、6及7) | 每股發行價 (註1及7) | 上一個營業日 的每股收市價 (註5) | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | 於下列日期開始時的結存(註2) | 2024年5月8日 | | 1,901,324,281 | | | | | | 1). | 購回股份(或其他證券)但沒有註銷 | | 957,900 | 0.04 % | | | % | | 變動日期 | 2024年5月8日 | | | | | | | | 2). | 購回股份(或其他證券)但沒有註銷 | | 1,166,800 | 0.05 % | | | % | ...

Investment Rating - The report maintains a "Buy-A" rating for the company, Fuyao Glass [1] Core Views - The photovoltaic glass market is experiencing a temporary supply-demand tightness, leading to a price increase. The effective capacity for 2024 is expected to be around 105,000 tons/day, with a supply-demand ratio of 118%, significantly improving from 2023 [1][21] - The overall industry cost is declining, giving leading companies like Fuyao a competitive edge due to their cost control measures and scale advantages [1][2] - Fuyao has established deep ties with downstream customers, solidifying its leading position in the market through early entry and geographical advantages [1][2] Summary by Sections Company Introduction - Fuyao Glass Group Co., Ltd. has been focused on photovoltaic glass for 18 years and is one of the largest producers globally. The company has a concentrated shareholding structure, with the chairman holding a significant portion of shares [1][8][11] - The company has shown robust revenue growth, with a CAGR of 35.0% from 2019 to 2023, and a net profit CAGR of 30.9% during the same period [1][15] Market Performance - The glass segment is seeing a profitability turning point, with leading companies benefiting from significant cost advantages. Fuyao's revenue is projected to reach 250.3 billion, 317.1 billion, and 360.1 billion yuan for 2024, 2025, and 2026, respectively, with corresponding net profits of 38.2 billion, 49.8 billion, and 58.2 billion yuan [2][3] Financial Data and Valuation - The company’s financial projections indicate a steady increase in revenue and net profit, with expected revenues of 25,031 million yuan in 2024, growing to 36,010 million yuan by 2026. The net profit is expected to rise from 3,816 million yuan in 2024 to 5,821 million yuan in 2026 [3][2] - The report highlights a decrease in the company's P/E ratio from 29.0 in 2022 to 10.6 in 2026, indicating an attractive valuation [3][2] Industry Analysis - The photovoltaic glass market is expected to see a supply-demand balance in the second and third quarters of 2024, with inventory turnover days likely to decrease, supporting price increases [1][21] - The report notes that the industry is facing challenges such as heavy asset investments and policy restrictions, which may limit effective supply [24][27]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of HKD 25.26, indicating a potential upside of 35% from the current price of HKD 18.78 [2][7]. Core Insights - In Q1 2024, the company achieved a net profit of RMB 760 million, representing a year-on-year increase of 48.57%, with total revenue reaching RMB 5.726 billion, up 6.73% year-on-year [4][9]. - The price of photovoltaic glass increased by HKD 0.5-1 per square meter in April, driven by demand from solar module production, and Q2 profits are expected to continue rising [5][10]. - The company is actively expanding its production capacity, with a total capacity of 20,600 tons/day as of the end of 2023, projected to reach approximately 30,200 tons by the end of 2024 [6][11]. Financial Performance - The company reported a significant increase in Q1 2024 profits due to lower soda ash costs, reduced expenses, and the reversal of impairment losses [4][9]. - The projected revenue growth for 2024 is 18%, with net profit expected to grow by 39.8% [8][12]. - The company’s earnings per share (EPS) for 2024 is estimated at RMB 0.99, with a PE ratio of 17.2 based on the current price [8][12]. Market Position and Expansion - The company is a leader in the photovoltaic glass industry, with ongoing domestic and international expansion plans that will support future growth [6][11]. - New production lines in Anhui and Nantong are expected to come online in 2024, contributing to a projected 20-30% increase in actual production volume [6][11]. - Future capacity expansions include additional facilities in Guangxi, Sichuan, and Jiangsu, as well as overseas projects in Vietnam and Indonesia, expected to start operations in 2026 or later [6][11].

表格類別： 股票 狀態： 新提交 公司名稱： 福萊特玻璃集團股份有限公司 呈交日期： 2024年5月8日 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | | 於香港聯交所上市(註11) | 否 | | | 證券代號 (如於香港聯交所上市) | | 說明 | A股（上海证券交易所） | | | | | | 發行股份 | (註6及7) | 股份數目 | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 (註4、6及7) | | 每股發行價 (註1及7) | 上一個營業日 的每股收市價 (註5) | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | 於下列日期開始時的結存(註2) | 2024年4月30日 | 1,901,324,281 | | | | | | | 1). 購回股份(或其他證券)但沒有註銷 | | 957,900 | | 0.04 % | | | % | | 變動日期 | 2024年5月8日 | | | | | | | | 於 ...

[Table_StockInfo] 买入 2024年 05月 05日 （维持） 证券研究报告•2023年年报及2024年一季报点评 当前价： 26.63元 福 莱 特（601865） 电力设备 目标价： 32.40元（6个月） 24Q1 业绩超预期，行业底部凸显盈利韧性 投资要点 西南证券研究发展中心 [T ab事le件_S：u公m司ma2ry02] 3年实现营业收入215.24亿元，同比增长39.21%；实现归母净 利润 27.60亿元，同比增长30.00%。2024Q1实现营业收入57.26亿元，同比 [分Ta析bl师e_：Au韩th晨or ] 增长6.73%；实现归母净利润7.60亿元，同比增长48.57%。 执业证号：S1250520100002 电话：021-58351923  光伏玻璃销量大增，行业底部盈利凸显韧性。2023年光伏组件价格大幅下跌刺 激了下游组件装机需求大幅增长。受益于公司新增产能释放和光伏行业需求旺 邮箱：hch@swsc.com.cn 盛，公司光伏玻璃营收、销量再创新高。2023年公司光伏玻璃销量12.20亿平 分析师：敖颖晨 （折合2.0mm口径），同比增长49.52%。 ...

福莱特玻璃集团股份有限公司 关于以集中竞价交易方式首次回购公司 A 股股份 的公告 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。 重要内容提示： | 回购方案首次披露日 | | | | | | 2024/2/24 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购用途 | | | | | | □减少注册资本 □用于转换公司可转债 | | | 累计已回购股数 | 万股 | | | | | 95.79 | | | 累计已回购股数占总股本比例 | | | | | | 0.04% | | | 累计已回购金额 | 万元 | | | | | 2,499.8095 | | | 回购方案实施期限 | 年 月 日~2024 2 8 | 年 | 月 | 22 | 日 | 2024 | 23 | | 预计回购金额 | 万元~60,000 万元 | | | | | 30,000 | | | | √用于员工持股计划或股权激励 | | | | | | | | | □为维护公司价值及股东权 ...

Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Insights - The company reported Q1 2024 revenue of 5.726 billion HKD, a year-on-year increase of 7% and a quarter-on-quarter increase of 2%. The net profit attributable to shareholders was 760 million HKD, representing a year-on-year increase of 49% but a quarter-on-quarter decrease of 4% [4]. - The increase in glass sales volume in Q1 was attributed to strong demand for glass components after the Spring Festival. The company's inventory at the end of Q1 was 1.53 billion HKD, down 24% quarter-on-quarter [4]. - The company expects significant improvement in profitability in Q2 due to stable glass prices and effective procurement management, with projected profits of 3.85 billion HKD and 4.66 billion HKD for 2024 and 2025, respectively [4]. Summary by Sections Event Description - The company released its Q1 report, showing better-than-expected performance with a revenue of 5.726 billion HKD and a net profit of 760 million HKD [4]. Event Commentary - The company experienced a slight increase in glass sales volume, driven by strong demand post-Spring Festival. Inventory levels are low, supporting future sales [4]. - Profitability is expected to improve due to stable pricing and effective cost management strategies, including flexible procurement of raw materials [4]. - The company is accelerating capacity expansion, with new production lines expected to come online within the year, which will support market share growth [4].