According to a report issued by China Merchants Securities International, Fuyao Glass's net profit for the third quarter was 2,036 billion yuan, down 9.9% year-on-year and month-on-month, below market expectations of 2.07 billion yuan. Excluding exchange losses, US factory fire repair, and one-time after-sales service fees totaling about 432 million yuan, the estimated profit before tax was about 2,919 billion yuan, up 0.5% year on year, 4.4% lower than market expectations. The bank lowered its 2026-2028 profit forecast by 11%, 8% and 9% to reflect exchange effects, weak recovery in the domestic car market and other one-time factors, and lowered the target price from HK$83 to HK$76, which is equivalent to 16.2 times the price-earnings ratio for the 2027 fiscal year, maintaining the “increase” rating. The bank believes that although the third quarter results fell short of expectations, the company's position in the industrial chain has not wavered. Electrification and intelligence bring opportunities for continuous product innovation. It is expected that after the domestic car market stabilizes in 2027, the company is expected to resume double-digit revenue and profit growth.

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