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Flat Glass Group Co., Ltd.

Flat Glass Group Co., Ltd.

FGSGF
Flat Glass Group Co., Ltd.US flagOther OTC
1.20
USD
- -
- -
4.59BMarket Cap
Flat Glass Group Co., Ltd.
FGSGF
(Other OTC)

Recent

price

1.20

P/E

ratio

- -

div

yld

- -

ROIC.AI

2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1.57
2.09
1.64
1.65
1.7
2.5
3.2
4.07
7.21
9.65
7.99
6.68
- -
Revenue per Share
0.22
0.31
0.34
0.24
0.23
0.37
0.83
0.99
0.99
1.24
0.43
0.42
- -
Basic EPS, GAAP
0.2
0.31
0.36
-0.14
-0.51
-0.41
-0.13
-1.49
-3.68
-1.63
0.44
-1.24
- -
Free Cash Flow per Basic Share
- -
0.18
0.15
0.07
0.04
0.12
0.12
0.19
0.35
0.42
0.67
0.14
- -
Dividend per Share
0.79
1.21
1.12
1.27
1.6
1.8
2.53
3.14
3.9
4.75
4.45
4.88
- -
Book Value per Share
0.82
1.71
1.46
1.61
1.79
2.18
3.48
5.25
6.21
9.64
8.95
9.25
- -
Tangible Book Value per Share
1,800
1,394
1,800
1,800
1,800
1,925
1,957
2,141
2,144
2,230
2,338
2,330
2,118
Basic Weighted Avg Shares
2,833
2,914
2,951
2,975
3,064
4,807
6,260
8,713
15,461
21,524
18,683
15,567
- -
Sales/Revenue/Turnover
20.75
19.33
26.86
17.37
14.92
19.68
34
27.41
15.75
16.93
9.82
11.21
- -
Operating Margin (%)
215
237
239
235
14
309
22
23
30
34
48
92
- -
Depreciation Expense
393
434
606
430
407
717
1,629
2,120
2,123
2,760
1,007
981
- -
Net Income, GAAP
19.27
19.13
17.27
13.9
12.62
16.86
13.08
10.94
1.4
9.46
9.96
8.11
- -
Effective Tax Rate (%)
13.86
14.89
20.54
14.44
13.29
14.92
26.02
24.33
13.73
12.82
5.39
6.3
- -
Profit Margin (%)
-257
679
847
982
810
-1
2,238
2,734
1,848
7,648
5,182
4,435
- -
Working Capital
136
183
- -
688
989
293
1,623
1,979
7,490
10,949
11,773
11,275
- -
LT Debt
1,658
2,573
2,958
3,250
3,669
4,513
7,235
11,810
14,032
22,291
21,784
22,612
- -
Total Equity
- -
14.62
18.83
11.47
8.02
12.23
20.7
15.44
10.93
10.26
4.4
4.27
- -
Return on Invested Capital (%)
- -
19.57
25.34
15.41
10.65
14.23
23.93
22.01
14.85
14.06
5.8
5.5
- -
Return on Capital (%)
- -
27.91
32.76
20.03
15.82
22.64
38.68
36.26
28.13
29.13
9.59
9
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'24
Dec'25
Mar'26
ST Debt
2,095
3,306
- -
LT Borrowings
11,099
10,509
- -
LT Finance Leases
665
766
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,335
2,330
- -
Market Capitalization
26,757
23,357
21,926

Working Capital

FRC

•

in mil. unless spec.
Jun'24
Dec'25
Mar'26
Total Current Assets
16,102
12,277
- -
Cash, Cash Equivalents & STI
5,837
4,811
- -
Accounts Receivable, Net
3,458
2,429
- -
Inventories
2,135
1,735
- -
Total Current Liabilities
9,768
7,841
- -
Payables & Accruals
- -
- -
- -
ST Debt
2,095
3,306
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
26.35%
28.49%
3.8%
Free Cash Flow
87.14%
153.23%
-380.32%
Net Income, GAAP
20.28%
-1.17%
-2.59%
Sales/Revenue/Turnover
21.82%
25.19%
-16.68%
Total Cash Common Dividend
27.41%
32.7%
-78.63%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5,726
4,970
- -
- -
18,683
2025
- -
- -
- -
- -
15,567
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.32
- -
- -
- -
0.43
2025
- -
- -
- -
- -
0.42
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
- -
- -
- -
0.67
2025
- -
- -
- -
- -
0.14
2026
- -
- -
- -
- -
- -
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Business
Flat Glass Group Co., Ltd. is a comprehensive glass manufacturing and sales company headquartered in Jiaxing, Zhejiang Province, China, founded in 1998. It operates primarily in the production and sale of photovoltaic glass, float glass, architectural glass, and household glass, alongside quartz ore mining and the construction and operation of solar photovoltaic power plants. The company serves a broad customer base including PV module manufacturers, glass processors, wholesalers, furniture manufacturers and retailers, architectural contractors, and construction companies. Its product portfolio encompasses high-quality float glass, engineering glass, home décor glass, and photovoltaic glass, representing a relatively complete industrial supply chain integrating glass R&D, manufacturing, processing, and sales. The company also offers supply chain management services, port operations, and exports glass products internationally. Recent major developments include the strategic acquisition of two mining companies, Sanli Mining and Dahua Dongfang Mining, to secure upstream quartzite resources for photovoltaic glass production, and the launch of a futures and derivatives hedging business aimed at enhancing its risk management capabilities. The company reported operational challenges in early 2025 with falling profits and revenue declines but continues to focus on developing its photovoltaic glass technology and expanding its energy segment. Flat Glass Group is listed on the Hong Kong Stock Exchange under ticker 6865.HK and maintains a vertically integrated business model within the glass and renewable energy sectors in China and globally.