Flat Glass Group (HKG:6865, SHA:601865) reported a 63.53% decrease in net profit attributable to shareholders for 2024 to 1.01 billion yuan from 2.76 billion yuan a year earlier, according to a Thursday filing with the Hong Kong bourse.
Earnings per share dropped to 0.43 yuan from 1.24 yuan a year ago. Analysts polled by Visible Alpha estimated EPS at 0.56 yuan.
Revenue fell 13.2% to 18.68 billion yuan from 21.52 billion yuan the previous year. Analysts polled by Visible Alpha estimated revenue at 19.22 billion yuan.
The company's shares were down nearly 5% in the late-morning trading in Hong Kong and down 4% on the Shanghai Stock Exchange.
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