Changes in Hong Kong stocks | Follett Glass (06865) fell nearly 6% in early trading, gross margin and asset impairment dragged down performance, and losses in the third quarter exceeded the first half of the year

The Zhitong Finance App learned that Follett Glass (06865) fell nearly 6% in early trading. As of press release, it decreased by 4.26% to HK$4.95, with a turnover of HK$12.911,800.

According to the news, Follett announced its results. In the first three quarters of this year, Follett achieved operating income of about 9.582 billion yuan, a year-on-year decrease of 23.12%; net loss attributable to shareholders of listed companies was 836 million yuan, which changed from profit to loss over the previous year. In the third quarter, the company lost 473 million yuan in net profit, down 225.6% year on year; net profit loss after deducting non-return to mother was 505 million yuan, down 226.6% year on year.

Huatai Securities pointed out that Q3's revenue for the single quarter was in line with our expectations, but the loss amount exceeded our expectations, and also exceeded the cumulative losses for the first half of '26. The main reason was that the gross margin turned negative due to asset impairment losses and rising energy costs exceeding expectations. Although short-term demand in the industry is still weak, and supply-side capacity cooling and inventory decline is slow, the company has a strong cost advantage, has high profit elasticity after supply and demand stabilizes, and maintains “additional holdings.”