Xin Lang Cai Jing·2025-10-21 05:54Core Viewpoint - Daiwa has raised the target price for Fuyao Glass from HKD 70 to HKD 80, maintaining a "Buy" rating due to better-than-expected profitability driven by changes in the product mix in Q3 [1] Financial Performance - Earnings per share estimates for Fuyao Glass have been increased by 4% to 7% for the years 2023 to 2027 [1] - The forecast for gross profit margin has also been improved [1] Market Position - Fuyao Glass has steadily increased its market share in the global automotive glass market this year [1] - The company is expanding its production capacity in response to this growth [1] Strategic Investments - In July, Fuyao Glass invested in new production capacity for aluminum trim in Shanghai [1] - The company plans to build another factory in Chongqing, aiming for aluminum trim revenue to reach between CNY 5.5 billion and CNY 6 billion by 2028 [1]