数据显示，汇添富基金旗下1只基金位居耀皮玻璃十大流通股东。中证上海国企ETF（510810）三季度 减持33万股，持有股数247.38万股，占流通股的比例为0.26%。根据测算，今日浮盈赚取约7.42万元。 连续4天上涨期间浮盈赚取113.8万元。 中证上海国企ETF（510810）成立日期2016年7月28日，最新规模79.94亿。今年以来收益7.47%，同类 排名3621/4197；近一年收益8.91%，同类排名3478/4157；成立以来收益4.25%。 中证上海国企ETF（510810）基金经理为吴振翔。 12月24日，耀皮玻璃涨0.36%，截至发稿，报8.41元/股，成交1.39亿元，换手率2.22%，总市值78.63亿 元。耀皮玻璃股价已经连续4天上涨，区间累计涨幅5.79%。 资料显示，上海耀皮玻璃集团股份有限公司位于中国(上海)自由贸易试验区张东路1388号4-5幢，成立日 期1993年11月23日，上市日期1994年1月28日，公司主营业务涉及生产和销售透明浮法玻璃、本体着色 浮法玻璃及其深加工系列产品。主营业务收入构成为：汽车加工玻璃38.72%，建筑加工玻璃35.22%， 浮法玻璃32. ...

截至发稿，吴振翔累计任职时间15年325天，现任基金资产总规模197.81亿元，任职期间最佳基金回报 197.58%， 任职期间最差基金回报-31.53%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 数据显示，汇添富基金旗下1只基金位居耀皮玻璃十大流通股东。中证上海国企ETF（510810）三季度 减持33万股，持有股数247.38万股，占流通股的比例为0.26%。根据测算，今日浮盈赚取约108.85万 元。 中证上海国企ETF（510810）成立日期2016年7月28日，最新规模79.94亿。今年以来收益7.46%，同类 排名3632/4197；近一年收益7.94%，同类排名3492/4154；成立以来收益4.24%。 中证上海国企ETF（510810）基金经理为吴振翔。 12月23日，耀皮玻璃涨5.44%，截至发稿，报8.53元/股，成交7138.94万元，换手率1.14%，总市值79.75 亿元。 资料显示，上海耀皮玻璃集团股份有限公司位于中国(上海)自由贸易 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4]. Core Views - The company has a strong technical foundation and focuses on high-end, differentiated products, particularly in the TCO glass sector, which is expected to benefit from the industrialization of perovskite solar cells [2][4]. - The automotive glass segment is poised for growth due to the increasing penetration of electric vehicles, which will enhance both market share and profit margins for the company [3][4]. - The company has successfully implemented a strategy of product differentiation and vertical integration, which has allowed it to maintain revenue stability despite industry pressures [18]. Summary by Sections Company Overview - Established in 1983, the company is a representative of high-quality glass in China, with main businesses in float glass, architectural glass, automotive glass, and specialty glass [14]. Float Glass - The float glass business is transitioning towards high-value, high-tech differentiated products, with a leading position in TCO glass, a key material for perovskite solar cells [2][35]. - The current price of TCO glass is approximately $10 per square meter, with a significant demand expected as production capacity increases [2]. Automotive Glass - The company is experiencing growth in the automotive glass segment, with a projected revenue of 1.01 billion yuan in the first half of 2025, a year-on-year increase of 16.2% [3][16]. - The gross margin for automotive glass is expected to improve, reaching 13.3% in the first half of 2025, up 1.4 percentage points year-on-year [3][16]. Architectural Processed Glass - The architectural processed glass segment is focusing on high-end markets, with revenue expected to decline by 17.0% year-on-year in the first half of 2025, but maintaining a stable gross margin of 15.4% [3][16]. Financial Forecast and Valuation - Revenue projections for the company are 5.56 billion yuan in 2025, 5.90 billion yuan in 2026, and 6.34 billion yuan in 2027, with net profits expected to grow significantly [4][5]. - The company is expected to achieve a net profit of 1.6 billion yuan in 2025, with a corresponding PE ratio of 50x [4][5].

Group 1 - The core point of the news is that Yao Pi Glass experienced a stock price increase of 7.59%, reaching 7.65 CNY per share, with a total market capitalization of 7.152 billion CNY [1] - Yao Pi Glass specializes in the production and sale of various types of glass, with its main revenue sources being automotive processing glass (38.72%), building processing glass (35.22%), float glass (32.77%), and other products (1.70%) [1] - The company is located in the China (Shanghai) Pilot Free Trade Zone and was established on November 23, 1993, with its listing date on January 28, 1994 [1] Group 2 - Among the top circulating shareholders of Yao Pi Glass, a fund under Huatai-PineBridge ranked as a significant holder, while the China Securities Shanghai State-Owned Enterprises ETF (510810) reduced its holdings by 311,700 shares, now holding 2.8038 million shares, which is 0.3% of the circulating shares [2] - The China Securities Shanghai State-Owned Enterprises ETF (510810) was established on July 28, 2016, with a current scale of 7.942 billion CNY, achieving a year-to-date return of 11.94% and a one-year return of 23.71% [2] - The fund manager of the China Securities Shanghai State-Owned Enterprises ETF is Wu Zhenxiang, who has a cumulative tenure of 15 years and 251 days, with the fund's total asset size at 19.181 billion CNY [3]

Company Overview - Yao Pi Glass is located in the China (Shanghai) Free Trade Zone and was established on November 23, 1993, with its listing date on January 28, 1994 [1] - The company specializes in the production and sales of transparent float glass, colored float glass, and deep processing products [1] - The revenue composition includes automotive processed glass (38.72%), building processed glass (35.22%), float glass (32.77%), and other (1.70%) [1] Stock Performance - As of September 19, Yao Pi Glass's stock price increased by 2.30%, reaching 7.11 CNY per share, with a total market capitalization of 6.647 billion CNY [1] - Year-to-date, the stock price has risen by 32.58%, with a 2.01% increase over the last five trading days, 8.72% over the last twenty days, and 24.02% over the last sixty days [1] - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on July 4, where it recorded a net buy of -34.6869 million CNY [1] Financial Performance - For the first half of 2025, Yao Pi Glass reported a revenue of 2.618 billion CNY, a year-on-year decrease of 4.81%, while the net profit attributable to shareholders was 86.366 million CNY, reflecting a year-on-year increase of 37.92% [2] - Cumulative cash dividends since the A-share listing amount to 1.533 billion CNY, with 44.876 million CNY distributed over the last three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders is 42,300, a decrease of 7.64% from the previous period [2] - The top ten circulating shareholders include the China Securities Shanghai State-owned Enterprise ETF, holding 2.8038 million shares, which is a decrease of 311,700 shares compared to the previous period [3] Industry Context - Yao Pi Glass operates within the building materials sector, specifically in glass manufacturing, and is associated with concepts such as renewable energy, solar energy, energy conservation, photovoltaic glass, and BYD concepts [2]

Group 1 - The core viewpoint of the news is that Yao Pi Glass has seen a stock price increase of 5.58%, reaching 7.38 CNY per share, with a total market capitalization of 6.9 billion CNY [1] - Yao Pi Glass specializes in the production and sale of various types of glass, with its main business revenue composition being: automotive processed glass 38.72%, architectural processed glass 35.22%, float glass 32.77%, and other supplementary products 1.70% [1] Group 2 - Among the top circulating shareholders of Yao Pi Glass, a fund under Huatai-PineBridge has reduced its holdings by 311,700 shares, now holding 2.8038 million shares, which accounts for 0.3% of the circulating shares [2] - The China Securities Shanghai State-Owned Enterprises ETF (510810) has achieved a year-to-date return of 6.12% and a one-year return of 40.12% [2]