香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 曹德旺 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3606） 2025年第一次臨時股東大會通告 茲 通 告 福 耀 玻 璃 工 業 集 團 股 份 有 限 公 司（「本公司」）將 於2025年9月16日（星 期 二）下 午 二 時 三 十 分 於 中 國 福 建 省 福 清 市 融 僑 經 濟 技 術 開 發 區 福 耀 工 業村的本公司會議室召開本公司2025年 第 一 次 臨 時 股 東 大 會（「臨時股 東大會」），以 考 慮 並 酌 情 通 過 下 列 決 議 案。除 非 另 有 所 指，本 通 告 所 用 詞彙與本公司日期為2025年8月26日 的 通 函 所 定 義 者 具 有 相 同 含 義。 決議案 – 1 – 1. 《2025年 中 期 利 潤 分 配 方 案》 2. 《關 於 修 改〈公 司 章 程〉的 ...

（於中華人民共和國註冊成立的股份有限公司） （股份代號：3606） 2025年第一次臨時股東大會之代表委任表格 日期：2025年 月 日 簽署 （附註7） ： *注意： 閣下在委任代表之前，請先閱覽日期為2025年8月26日的本公司臨時股東大會通告及通函。除文義另有所指外，本代表 委任表格所使用的詞彙與上述通函所界定者具有相同涵義。 決議案 贊成 （附註5） 反對 （附註5） 棄權 （附註5） 1 《2025年中期利潤分配方案》 2 《關於修改〈公司章程〉的議案》 3 《關於修改〈股東大會議事規則〉的議案》 4 《關於修改〈董事局議事規則〉的議案》 5 《關於修改〈獨立董事制度〉的議案》 6 《關於修改〈獨立董事現場工作制度〉的議案》 7 《關於修改〈股東大會網絡投票實施細則〉的議案》 8 《關於修改〈對外擔保管理制度〉的議案》 9 《關於修改〈關聯交易管理制度〉的議案》 決議案 累積投票 （附註6） 10 《關於選舉兩名獨立非執行董事的議案》 10.01 選舉LIU XIAOZHI（劉小稚）女士為第十一屆董事局獨立非執行董 事 10.02 選舉程雁女士為第十一屆董事局獨立非執行董事 註： 上述決議案中第2項 ...

此乃要件 請即處理 如 閣下對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的股票經紀或其 他註冊證券商、銀行經理、律師、專業會計師或其他專業顧問。 如 閣下已出售或轉讓名下所有福耀玻璃工業集團股份有限公司股份，應立即將本通函 連同所附代表委任表格交給買主或承讓人，或送交經手買賣或轉讓的銀行、股票經紀或 其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通函全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3606） 2025年第一次臨時股東大會 福耀玻璃工業集團股份有限公司謹定於2025年9月16日（星期二）下午二時三十分於中國福 建省福清市融僑經濟技術開發區福耀工業村本公司會議室召開2025年第一次臨時股東大會， 召開臨時股東大會的通告載列於本通函的第309頁至第314頁。 不論 閣下能否出席臨時股東大會，務請細閱臨時股東大會通告並盡早將隨附的代表委 任表格按其上印列的指示填妥交回。H股股東須將代表委任表 ...

福耀玻璃工業集團股份有限公司 重要提示 五. 董事局決議通過的本報告期利潤分配預案或公積金轉增股本預案 2025年上半年本公司按中國企業會計準則編製的合併財務報表中歸屬於母公司普通股股東的淨利潤為人民幣 4,804,711,711元，按國際財務報告準則編製的合併財務報表中歸屬於母公司普通股股東的淨利潤為人民幣 4,804,424,175元。 2025年上半年本公司按中國企業會計準則編製的母公司報表的淨利潤為人民幣5,489,977,256元，加上2025 年年初未分配利潤人民幣8,717,965,322元，扣減當年已分配的2024年度利潤人民幣4,697,538,358元，截至 2025年6月30日可供股東分配的利潤為人民幣9,510,404,220元。 綜合考慮投資者的合理回報，兼顧公司可持續發展，本公司擬進行2025年中期利潤分配。本公司擬訂的2025 年中期利潤分配方案為：公司擬以實施2025年中期權益分派的股權登記日登記的總股數為基數，向2025年中 期權益分派的股權登記日登記在冊的本公司A股股東和H股股東派發現金股利，每股分配現金股利人民幣0.90 元（含稅），本公司剩餘未分配利潤結轉入2025年下 ...

Company Overview - Fuyao Glass Industry Group Co., Ltd. is located in Fuzhou, Fujian Province, and was established on June 21, 1992. It was listed on June 10, 1993. The company specializes in the design, production, sales, and service of automotive-grade float glass and automotive glass [1][2]. Financial Performance - For the first half of 2025, Fuyao Glass achieved operating revenue of 21.447 billion yuan, representing a year-on-year growth of 16.94%. The net profit attributable to shareholders was 4.805 billion yuan, reflecting a year-on-year increase of 37.33% [2]. - As of June 30, 2025, the company had a total of 93,300 shareholders, a decrease of 7.65% from the previous period. The average circulating shares per person increased by 8.29% to 21,486 shares [2]. Stock Performance - On August 26, Fuyao Glass's stock price rose by 2.01%, reaching 64.09 yuan per share, with a trading volume of 890 million yuan and a turnover rate of 0.70%. The total market capitalization stood at 167.258 billion yuan [1]. - Year-to-date, the stock price has increased by 5.76%, with a 14.92% rise over the last five trading days, a 16.46% increase over the last 20 days, and a 10.37% increase over the last 60 days [1]. Shareholder Information - Since its A-share listing, Fuyao Glass has distributed a total of 33.334 billion yuan in dividends, with 11.352 billion yuan distributed in the last three years [3]. - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which held 373 million shares, an increase of 15.9981 million shares from the previous period. Huatai-PineBridge CSI 300 ETF ranked sixth among the top shareholders with 28.4765 million shares, an increase of 2.3031 million shares [3].

Investment Rating - The investment rating for the company is "Buy" and is maintained [4]. Core Views - The company achieved a revenue of 11.54 billion yuan in Q2 2025, representing a year-on-year increase of 21.4%, and a net profit attributable to shareholders of 2.77 billion yuan, up 31.5% year-on-year. The performance exceeded expectations due to scale effects and a decrease in raw material costs [2][4]. - The company is positioned as a leading global automotive glass manufacturer, with a widening competitive moat and significant long-term investment value [2][7]. Summary by Relevant Sections Financial Performance - In Q2 2025, the company reported a revenue of 11.54 billion yuan, a 21.4% increase year-on-year, and a net profit of 2.77 billion yuan, reflecting a 31.5% year-on-year growth. The gross profit margin reached 38.5%, an increase of 3.5 percentage points year-on-year [2][7]. - The company plans to distribute a cash dividend of 2.35 billion yuan for the mid-year report, with a payout ratio of 48.9% [7]. Market Position and Growth Potential - The company benefits from a high penetration rate of high-value-added products and an increasing global market share. The automotive glass market is expected to expand rapidly over the next decade, with the company poised to gain significantly [2][7]. - The company’s high-value products accounted for an increased revenue share, with a notable rise in the penetration of advanced glass technologies [7]. Future Outlook - The company is expected to continue its rapid growth, driven by the increasing demand for advanced automotive glass products. Projections for net profit attributable to shareholders are 9.88 billion yuan, 11.34 billion yuan, and 13.17 billion yuan for 2025, 2026, and 2027, respectively [7].

Investment Rating - The report maintains a rating of "Accumulate" for the company [3] Core Views - The company is entering a new growth cycle driven by capacity expansion and product upgrades, with significant capital expenditures planned for new production lines [2] - The company achieved revenue of 21.447 billion and a net profit of 4.805 billion in the first half of 2025, reflecting year-on-year growth of 16.9% and 37.3% respectively [6] - The company is expected to benefit from an increase in global market share and product average selling price (ASP) [6] Financial Summary - Revenue is projected to grow from 33.161 billion in 2023 to 60.569 billion in 2027, with a compound annual growth rate (CAGR) of approximately 15.2% [1] - Net profit is expected to increase from 5.629 billion in 2023 to 12.532 billion in 2027, with a CAGR of about 16.6% [1] - The company's return on equity (ROE) is forecasted to rise from 17.9% in 2023 to 22.1% in 2027 [1] - The price-to-earnings (P/E) ratio is projected to decrease from 29.3 in 2023 to 13.2 in 2027, indicating potential undervaluation [1] Revenue and Profit Growth - In the second quarter of 2025, the company reported revenue of 11.537 billion, a year-on-year increase of 21.4% [6] - The gross profit margin for the second quarter of 2025 was 38.5%, reflecting improvements due to scale effects and product structure optimization [6] - The company is expected to achieve revenues of 46.212 billion, 52.574 billion, and 60.569 billion in 2025, 2026, and 2027 respectively [7]

Core Viewpoint - Fuyao Glass achieved a net profit attributable to shareholders of 4.805 billion yuan in the first half of the year, representing a year-on-year increase of 37.33%, indicating strong and stable revenue growth and improved profitability [1] Revenue and Profit Performance - The company's revenue growth is driven by global market share, average selling price (ASP), and increased area per vehicle, showing strong certainty in revenue growth [1] - Profit performance is on an upward trend, although it may be affected by fluctuations in foreign exchange gains and losses, SAM losses, and raw material costs such as soda ash and natural gas [1] Future Growth Potential - With the upcoming release of production capacity from expansion projects in the U.S., the Fuzhou export base, and the Hefei base, the company's market share growth rate is expected to exceed expectations [1] - The firm maintains a positive outlook on the company's upward trend and has reiterated an "overweight" rating [1]

Summary of the Conference Call for Fuyao Glass Industry Group Co., Ltd. (福耀玻璃-A) Company Overview - Fuyao Glass is a major supplier of safety glass solutions for various transportation vehicles, including automotive-grade float glass and automotive glass, and is currently the largest automotive glass supplier in China [11][22]. Key Financial Performance - **2Q25 Performance**: - Net profit increased by 31.5% year-on-year to RMB 2.77 billion [1] - Revenue for 1H25 rose by 16.9% year-on-year to RMB 21.45 billion, with net profit up 37.3% to RMB 4.80 billion [1] - 2Q25 revenue grew by 21.4% year-on-year and 16.4% quarter-on-quarter to RMB 11.54 billion [1] Revenue Drivers - Revenue growth in 2Q25 attributed to: 1. Price increases in the U.S. market to offset tariff impacts and a higher proportion of high-value products in the domestic market, with a year-on-year increase of 8.8% in the price per square meter of automotive glass [1] 2. Further expansion of global market share, with a full order book domestically and ongoing overseas orders [1] Profitability Metrics - **Profit Margin Improvement**: - Core operating profit margin increased by 2.9 percentage points year-on-year and 3.1 percentage points quarter-on-quarter to 23.6% in 2Q25 [2] - U.S. factory operating profit margin improved by 2.2 percentage points year-on-year and 4.9 percentage points quarter-on-quarter to 17.6% [2] - Improvement driven by lower raw material costs due to falling soda ash prices and price increases in the U.S. market [2] Market Outlook - Positive outlook for Fuyao as a global leader in automotive glass, demonstrating strong pricing power amid rising tariffs [3] - Anticipated growth in high-value product sales due to trends in electrification and intelligence in the global automotive market [3] - Management expects manageable impacts from new factory operations in Fujian and Anhui, primarily in terms of increased personnel costs, with depreciation effects expected to manifest mainly in 2026 [3] Valuation and Target Price - Target price raised from RMB 80.00 to RMB 85.00 based on 2Q25 performance, with a 5%-10% upward revision in profit forecasts for 2025-2027 [4] Investment Rating - 12-month rating: Buy [5] - Current stock price (as of August 19, 2025): RMB 55.77, with a target price indicating a potential upside of 52.4% [10][22] Risks and Challenges - Potential risks include: 1. Slower-than-expected growth in high-value product sales [12] 2. Order cancellations or delays from customers [12] 3. Quality issues leading to product recalls [12] 4. Slowdown in the passenger vehicle industry affecting demand for automotive parts [12] 5. Increased competition from overseas manufacturers in China [12] 6. Rising labor or raw material costs [12] 7. Macroeconomic slowdown impacting the automotive sector [12] Conclusion - Fuyao Glass is positioned well for growth with strong financial performance and market leadership, but must navigate various risks in a competitive and changing environment. The upward revision of the target price reflects confidence in the company's resilience and growth potential.

Summary of the Conference Call for Fuyao Glass Industry Group Co., Ltd. (福耀玻璃-A) Company Overview - Fuyao Glass is a leading supplier of safety glass solutions for various transportation vehicles, including automotive-grade float glass, automotive glass, and locomotive glass design, production, sales, and services. It is currently the largest automotive glass supplier in China [11]. Key Financial Performance - **2Q25 Performance**: - Net profit increased by 31.5% year-on-year to RMB 2.77 billion [1] - Revenue for 1H25 rose by 16.9% year-on-year to RMB 21.45 billion, with net profit up by 37.3% to RMB 4.80 billion [1] - 2Q25 revenue grew by 21.4% year-on-year and 16.4% quarter-on-quarter to RMB 11.54 billion [1] Revenue Drivers - The significant revenue growth in 2Q25 is attributed to: 1. Price increases in the U.S. market to offset tariff impacts and a higher proportion of high-value-added products in the domestic market, with a year-on-year increase of 8.8% in the price per square meter of automotive glass [1] 2. Further expansion of global market share, with a full order book domestically and ongoing overseas orders [1] Profitability and Margin Improvement - **Profit Margin**: - Core operating profit margin improved by 2.9 percentage points year-on-year and 3.1 percentage points quarter-on-quarter to 23.6% in 2Q25 [2] - The increase in core profit margin is mainly due to: 1. Decrease in raw material costs from falling soda ash prices [2] 2. Price increases in the U.S. market and ongoing ramp-up of second-phase capacity, with U.S. factory operating profit margin rising by 2.2 percentage points year-on-year and 4.9 percentage points quarter-on-quarter to 17.6% [2] Market Outlook and Strategic Positioning - The company is viewed positively for its resilience in performance amid rising tariffs in the U.S. market, showcasing its pricing power as a global leader in automotive glass [3] - The trends of electrification and intelligence in the global automotive market are expected to continue, with an anticipated increase in the proportion of high-value-added products, enhancing the per-vehicle value [3] - Management expects that the impact of new factories in Fujian and Anhui on 2025 will mainly be from increased personnel costs, with depreciation from fixed assets primarily affecting 2026 [3] Valuation and Target Price Adjustment - The target price has been raised from RMB 80.00 to RMB 85.00 based on the strong performance in 2Q25, with a 5%-10% upward revision of profit forecasts for 2025-2027 [4] Investment Rating - The stock is rated as "Buy" with a 12-month target price of RMB 85.00, reflecting a significant upside potential from the current price of RMB 55.77 [5] Important Financial Metrics - Market capitalization: RMB 146 billion (approximately USD 20.3 billion) [5] - Average daily trading volume: 10.655 million shares [5] - Projected earnings per share (EPS) for 12/25E: RMB 3.67, representing a 10% increase from previous estimates [7] Risks and Challenges - Potential risks include: 1. Slower-than-expected growth in high-value-added product sales [12] 2. Order cancellations or delays from customers [12] 3. Quality issues leading to product recalls [12] 4. Slowdown in the passenger vehicle industry affecting demand for automotive parts [12] 5. Increased competition from overseas manufacturers in China [12] 6. Rising labor or raw material costs [12] 7. Macroeconomic slowdown impacting the passenger vehicle sector [12] Conclusion - Fuyao Glass demonstrates strong financial performance and resilience in a challenging market environment, with positive growth prospects driven by strategic pricing and product innovation. The upward revision of the target price reflects confidence in the company's ability to navigate industry challenges and capitalize on growth opportunities.