CICC: Cuts Flat Glass (06865.HK) target price by 20% to HK$8, maintains "outperform" rating

Zhitong Finance APP has learned that CICC issued a research report stating that, considering the uncertainty of supply-side capacity reductions, it has lowered the target price of Flat Glass (06865.HK) by 20% to HK$8 and maintained an "Outperform" rating. The bank expects the company's net loss in 2026 to be RMB 830 million and net profit in 2027 to be RMB 430 million. The report noted that Flat Glass's revenue in the first three quarters fell 23.12% year on year, and the net loss attributable to shareholders reached RMB 836 million.