FLAT GLASS (06865) has posted its interim results for the first half of 2026, revealing a net loss attributable to shareholders of 363 million yuan, a sharp reversal from the profit recorded during the same period last year.

The company generated total revenue of 6.668 billion yuan for the six months ended June 30, 2026, representing a year-on-year decrease of 13.81%. The group recorded a basic loss per share of 0.16 yuan.

During the reporting period, the group's gross margin stood at 8.18%, down 5.87 percentage points from the 14.05% gross margin achieved in the corresponding period of the prior year.

The contraction in gross margin was primarily driven by the narrowing profitability of the photovoltaic glass segment. Two key factors underpinned this trend: first, a temporary supply-demand imbalance within the industry, compounded by escalating trade barriers, led to a significant year-on-year drop in average selling prices for photovoltaic glass, thereby squeezing profit margins; and second, the group has continued to strengthen its cost competitiveness through initiatives focused on process upgrades and production efficiency optimization, which partially mitigated the earnings pressure.