Daiwa: Cuts Fuyao Glass (03606.HK) Target Price to HK$68 and Lowers Profit Forecast; Management Emphasizes Three Major Growth Engines

Zhitong Finance APP has learned that Daiwa has issued a research report stating that Fuyao Glass (03606.HK) delivered stable gross margin performance in the third quarter but softer shipments, with higher operating expenses and larger foreign exchange losses weighing on profit. The bank has lowered its net profit forecasts for 2026 to 2028 by 8% to 9%, cut its target price from HK$73 to HK$68, and maintained its "Buy" rating.