Stock Track | Flat Glass Group Shares Plummet Despite Narrower Q3 Loss

Stock Track10-29

Shares of Flat Glass Group (HKG:6865, SHA:601865) plummeted by 7.13% on Monday, despite the company reporting a narrower net loss for the third quarter of 2024.

According to the company's financial results released on Tuesday, Flat Glass Group recorded a net loss attributable to equity owners of 203.0 million yuan for the three months ended September 30, 2024. While still a significant loss, this figure represents a 122.97% improvement compared to the corresponding period last year.

However, the glass producer's revenue for the third quarter fell by a substantial 37.03% year-over-year to 3.91 billion yuan, which may have weighed on investor sentiment. The company's stock closed at HK$14.80 on Tuesday, down 5.73% from the previous day's close.

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