Investment Summary
Results Maintained Rapid Growth
Flat Glass recorded a revenue of RMB4,807 million in 2019, up by 56.9% yoy because of the rise of unit price resulting from commission of new production capacity and the recovery of demand. The Company reported net profit attributable to the parent company of RMB717 million, up by 76% yoy; a net cash flow from operating activities of RMB510 million, up by 18.4% yoy; a weighted return on equity of 17%, up by 5% yoy.
Both the Quantity and the Price Increased, with Revenue from PV Glass Accounting for Nearly 80%
In 2019, the sales volume of PV glass of the Company reached 160 million square meters, up by 67% yoy. The gross margin of the Company increased by 5.18 ppts to 32.87% because of the recovering price of PV glass, improvement of production efficiency of the newly-commissioned production capacity and improvement of product mix (thin glass accounted for a higher proportion).