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Flat Glass Group

SEHK:6865
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6865
SEHK
HK$19B
Market Cap
  1. Home
  2. HK
  3. Semiconductors
Company description

Flat Glass Group Co., Ltd., together with its subsidiaries, engages in the design, development, production, and sale of glass products in the People's Republic of China, Europe, North America, and internationally. The last earnings update was 35 days ago. More info.


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  • Flat Glass Group has significant price volatility in the past 3 months.
6865 Share Price and Events
7 Day Returns
-2.5%
SEHK:6865
-0.2%
HK Semiconductor
-2.4%
HK Market
1 Year Returns
63.3%
SEHK:6865
-12%
HK Semiconductor
-16.5%
HK Market
6865 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Flat Glass Group (6865) -2.5% -1.5% 38.2% 63.3% 154.6% -
HK Semiconductor -0.2% -8.2% -3.1% -12% 17% -37.3%
HK Market -2.4% -9% -8.1% -16.5% 19.3% 4.9%
1 Year Return vs Industry and Market
  • 6865 outperformed the Semiconductor industry which returned -12% over the past year.
  • 6865 outperformed the Market in Hong Kong which returned -16.5% over the past year.
Price Volatility
6865
Industry
5yr Volatility vs Market
Related Companies

6865 Value

 Is Flat Glass Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Flat Glass Group. This is due to cash flow or dividend data being unavailable. The share price is HK$3.87.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Flat Glass Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Flat Glass Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:6865 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CNY CN¥0.24
SEHK:6865 Share Price ** SEHK (2019-05-24) in HKD HK$3.87
SEHK:6865 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥3.4
Hong Kong Semiconductor Industry PE Ratio Median Figure of 17 Publicly-Listed Semiconductor Companies 16.41x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 10.99x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Flat Glass Group.

SEHK:6865 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:6865 Share Price ÷ EPS (both in CNY)

= 3.4 ÷ 0.24

14.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Flat Glass Group is good value based on earnings compared to the HK Semiconductor industry average.
  • Flat Glass Group is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Flat Glass Group's expected growth come at a high price?
Raw Data
SEHK:6865 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-3.4%per year
Hong Kong Semiconductor Industry PEG Ratio Median Figure of 5 Publicly-Listed Semiconductor Companies 0.83x
Hong Kong Market PEG Ratio Median Figure of 462 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Flat Glass Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Flat Glass Group's assets?
Raw Data
SEHK:6865 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CNY CN¥2.21
SEHK:6865 Share Price * SEHK (2019-05-24) in HKD HK$3.87
SEHK:6865 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥3.4
Hong Kong Semiconductor Industry PB Ratio Median Figure of 29 Publicly-Listed Semiconductor Companies 1.54x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.94x
SEHK:6865 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:6865 Share Price ÷ Book Value per Share (both in CNY)

= 3.4 ÷ 2.21

1.54x

* Primary Listing of Flat Glass Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Flat Glass Group is good value based on assets compared to the HK Semiconductor industry average.
X
Value checks
We assess Flat Glass Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Semiconductor industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Semiconductor industry average (and greater than 0)? (1 check)
  5. Flat Glass Group has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

6865 Future Performance

 How is Flat Glass Group expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

  • No analysts cover Flat Glass Group, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Flat Glass Group expected to grow at an attractive rate?
  • Flat Glass Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • Flat Glass Group's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Flat Glass Group's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:6865 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:6865 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -3.4%
SEHK:6865 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 24.4%
Hong Kong Semiconductor Industry Earnings Growth Rate Market Cap Weighted Average 23.1%
Hong Kong Semiconductor Industry Revenue Growth Rate Market Cap Weighted Average 12.8%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:6865 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:6865 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 6,946 1,224 3
2020-12-31 5,959 841 3
2019-12-31 4,568 949 3
SEHK:6865 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-03-31 3,292 477 422
2018-12-31 3,040 398 411
2018-09-30 3,008 399 424
2018-06-30 2,976 400 437
2018-03-31 2,931 396 424
2017-12-31 2,975 300 430
2017-09-30 2,924 455 456
2017-06-30 2,874 611 482
2017-03-31 2,913 826 544
2016-12-31 2,951 1,042 606
2016-09-30 2,945 979 589
2016-06-30 2,938 916 571

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Flat Glass Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Flat Glass Group's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:6865 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Flat Glass Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:6865 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
SEHK:6865 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-03-31 0.24
2018-12-31 0.23
2018-09-30 0.24
2018-06-30 0.24
2018-03-31 0.23
2017-12-31 0.24
2017-09-30 0.25
2017-06-30 0.27
2017-03-31 0.30
2016-12-31 0.34
2016-09-30 0.34
2016-06-30 0.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Flat Glass Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Flat Glass Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Flat Glass Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

6865 Past Performance

  How has Flat Glass Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Flat Glass Group's growth in the last year to its industry (Semiconductor).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Flat Glass Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Flat Glass Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Flat Glass Group's 1-year earnings growth is negative, it can't be compared to the HK Semiconductor industry average.
Earnings and Revenue History
Flat Glass Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Flat Glass Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:6865 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 3,291.82 421.65 274.00 125.38
2018-12-31 3,039.80 410.93 257.18 113.25
2018-09-30 3,008.10 424.10 240.99 101.66
2018-06-30 2,976.40 437.27 236.52 90.07
2018-03-31 2,931.32 424.18 234.89 96.39
2017-12-31 2,974.51 429.51 232.32 96.13
2017-09-30 2,924.49 455.87 231.37 102.10
2017-06-30 2,874.47 482.24 230.42 108.07
2017-03-31 2,912.87 544.14 225.32 105.64
2016-12-31 2,951.27 606.04 220.23 103.20
2016-09-30 2,944.59 588.69 209.52 102.36
2016-06-30 2,937.92 571.33 198.82 101.51
2016-03-31 2,925.99 502.56 202.43 102.02
2015-12-31 2,914.05 433.79 206.05 102.52
2014-12-31 2,833.31 392.67 214.30 129.33
2013-12-31 2,187.28 203.62 186.99 66.58
2012-12-31 1,488.56 59.88 125.30 59.89

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Flat Glass Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Flat Glass Group used its assets more efficiently than the HK Semiconductor industry average last year based on Return on Assets.
  • Flat Glass Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Flat Glass Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Semiconductor industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Flat Glass Group has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

6865 Health

 How is Flat Glass Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Flat Glass Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Flat Glass Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Flat Glass Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Flat Glass Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Flat Glass Group Company Filings, last reported 1 month ago.

SEHK:6865 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,021.59 1,549.97 894.89
2018-12-31 3,668.65 1,628.58 531.97
2018-09-30 3,668.65 1,628.58 531.97
2018-06-30 3,464.16 1,508.94 959.96
2018-03-31 3,250.37 1,071.69 949.65
2017-12-31 3,250.37 1,071.69 949.65
2017-09-30 3,250.37 1,071.69 949.65
2017-06-30 3,082.83 423.34 556.29
2017-03-31 3,082.83 423.34 556.29
2016-12-31 2,957.65 416.04 740.61
2016-09-30 2,957.65 416.04 740.61
2016-06-30 2,774.62 587.96 869.28
2016-03-31 2,774.62 587.96 869.28
2015-12-31 2,572.78 1,079.57 921.98
2014-12-31 1,657.53 1,152.35 141.22
2013-12-31 1,739.68 1,137.87 214.17
2012-12-31 1,536.06 1,292.55 125.24
  • Flat Glass Group's level of debt (38.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (66.4% vs 38.5% today).
  • Debt is well covered by operating cash flow (30.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 57.9x coverage).
X
Financial health checks
We assess Flat Glass Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Flat Glass Group has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

6865 Dividends

 What is Flat Glass Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.32%
Current annual income from Flat Glass Group dividends. Estimated to be 3.92% next year.
If you bought HK$2,000 of Flat Glass Group shares you are expected to receive HK$26 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Flat Glass Group's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • Flat Glass Group's dividend is below the markets top 25% of dividend payers in Hong Kong (5.83%).
Upcoming dividend payment

Purchase Flat Glass Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:6865 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Hong Kong Semiconductor Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 2.7%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 965 Stocks 3.7%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:6865 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.16 1.00
2020-12-31 0.14 1.00
2019-12-31 0.10 1.00
SEHK:6865 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.045 1.312
2018-08-08 0.000 0.000
2018-05-30 0.000 0.000
2017-09-28 0.048 3.003
2017-08-29 0.048 4.181
2017-04-27 0.078 6.057
2016-10-04 0.110 7.217
2016-04-28 0.072 5.492
2016-03-21 0.072 5.830

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Flat Glass Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Flat Glass Group has only been paying a dividend for 3 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Flat Glass Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess Flat Glass Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Flat Glass Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Flat Glass Group has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

6865 Management

 What is the CEO of Flat Glass Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hongliang Ruan
COMPENSATION CN¥860,000
AGE 56
TENURE AS CEO 13.4 years
CEO Bio

Mr. Hongliang Ruan founded Flat Glass Group Co., Ltd. and serves as its General Manager, Chief Executive and Chairman of the Board. Mr. Ruan has experience in glass industry. He has been a Director and General Manager of Shanghai Flat since June 2006, of Zhejiang Jiafu since August 2007, of Anhui Flat Materials since January 2011, of Anhui Flat Glass since January 2011, of Zhejiang Flat since February 2011 and of Flat New Energy since March 2014. Mr. Ruan served as a Director of Naibang Trading from June 1998 to December 2005, the Deputy Chairman of the Board from June 1998 to February 1999 and as the Chairman of the Board from March 1999 to May 2000 and from September 2003 to December 2005, respectively. Mr. Ruan also served as the Deputy General Manager of Naibang Trading from May 2000 to September 2003. He worked as Plant Manager of Jiaxing Glassware Plant from September 1984 to May 2000. He has been a director of Flat HK since January 2013. Mr. Ruan has also served as a director of Jiaxing Xiuzhou District Lianhui Venture Capital Co., Ltd. since June 2009. Mr. Ruan also serves in various industry and business associations. He has served as a standing Vice-Chairman of Zhejiang Provincial Glass Industry Association since April 2009, a Vice-Chairman of Jiaxing City Entrepreneur Association and Jiaxing City Chamber of Commerce since October 2010 and December 2011, respectively. Mr. Ruan has received several awards during the past years, including but not limited to, “the Advanced Participants in Association Activities in the Year 2012 granted by China Architectural and Industrial Glass Association in March 2013, “Excellent Entrepreneur of Small and Medium Enterprises in Zhejiang Province granted by Association of Small and Medium Enterprises in Zhejiang Province and Selection Committee of Excellent Entrepreneur of Small and Medium Enterprises in Zhejiang Province in December 2012, and “Jiaxing Charity Award in the Year 2011 granted by Jiaxing Municipal People’s Government in December 2011. In addition, Mr. Ruan was also awarded as “The Innovative Pioneer People of Small and Medium Enterprises in the PRC by Association of Small and Medium Enterprises in the PRC and Selection Committee of Innovative Products among the PRC Enterprises in October 2011 and one of Mr. Ruan’s research results was awarded as “Top 100 Innovative & Excellent Research Results of Small and Medium Enterprises in the PRC by same institutions in October 2011. Mr. Ruan graduated from Jiaxing First High School in July 1978.

CEO Compensation
  • Hongliang's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Hongliang's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Flat Glass Group management team in years:

20.9
Average Tenure
56
Average Age
  • The average tenure for the Flat Glass Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Hongliang Ruan

TITLE
Founder
COMPENSATION
CN¥860K
AGE
56
TENURE
13.4 yrs

Jinhua Jiang

TITLE
Deputy Chairman & Deputy GM
COMPENSATION
CN¥698K
AGE
57
TENURE
9.9 yrs

Yezhong Wei

TITLE
Co-Founder
COMPENSATION
CN¥622K
AGE
46
TENURE
9.8 yrs

Qifu Shen

TITLE
Executive Director
COMPENSATION
CN¥596K
AGE
52

Wenrong Zheng

TITLE
Co-Founder & Chairman of Board of Supervisors
COMPENSATION
CN¥280K
AGE
55
TENURE
20.9 yrs

Fuquan Shen

TITLE
Co-Founder & Supervisor
COMPENSATION
CN¥280K
AGE
58
TENURE
20.9 yrs

Quanming Zhu

TITLE
Co-Founder & Supervisor
COMPENSATION
CN¥242K
AGE
64
TENURE
20.9 yrs

Xinhua Chen

TITLE
TENURE
20.9 yrs

Haiming Zou

TITLE
TENURE
20.9 yrs

Hui Fen Wang

TITLE
TENURE
20.9 yrs
Board of Directors Tenure

Average tenure and age of the Flat Glass Group board of directors in years:

4.3
Average Tenure
55.5
Average Age
  • The tenure for the Flat Glass Group board of directors is about average.
Board of Directors

Hongliang Ruan

TITLE
Founder
COMPENSATION
CN¥860K
AGE
56
TENURE
13.4 yrs

Jinhua Jiang

TITLE
Deputy Chairman & Deputy GM
COMPENSATION
CN¥698K
AGE
57
TENURE
13.4 yrs

Yezhong Wei

TITLE
Co-Founder
COMPENSATION
CN¥622K
AGE
46
TENURE
9.8 yrs

Qifu Shen

TITLE
Executive Director
COMPENSATION
CN¥596K
AGE
52
TENURE
4.3 yrs

Wenrong Zheng

TITLE
Co-Founder & Chairman of Board of Supervisors
COMPENSATION
CN¥280K
AGE
55
TENURE
4.3 yrs

Fuquan Shen

TITLE
Co-Founder & Supervisor
COMPENSATION
CN¥280K
AGE
58
TENURE
4.3 yrs

Quanming Zhu

TITLE
Co-Founder & Supervisor
COMPENSATION
CN¥242K
AGE
64
TENURE
4.3 yrs

Xiaozhong Cui

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥80
AGE
48
TENURE
2.5 yrs

Frankie Ng

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥80K
AGE
64
TENURE
4.3 yrs

Hua Fulan

TITLE
Independent Non-executive Director
AGE
55
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
11. Mar 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 07. Mar 19 07. Mar 19 -5,499,000 HK$3.56 HK$-19,554,457
06. Mar 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 06. Mar 19 06. Mar 19 -4,500,000 HK$3.71 HK$-16,686,010
05. Mar 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 05. Mar 19 05. Mar 19 -4,500,000 HK$3.73 HK$-16,798,497
04. Mar 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 04. Mar 19 04. Mar 19 -4,500,000 HK$3.85 HK$-17,316,007
01. Mar 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 01. Mar 19 01. Mar 19 -4,500,000 HK$3.16 HK$-14,225,836
27. Feb 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 27. Feb 19 27. Feb 19 -4,500,000 HK$3.09 HK$-13,900,490
25. Feb 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 25. Feb 19 25. Feb 19 -3,501,000 HK$2.81 HK$-9,820,317
22. Feb 19 Buy Greenwoods China Alpha Master Fund Company 19. Feb 19 19. Feb 19 20,000,000 HK$2.60 HK$52,000,066
20. Feb 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 19. Feb 19 19. Feb 19 -20,989,000 HK$2.71 HK$-56,922,239
01. Feb 19 Buy CICC Pucheng Investment Co., Ltd. Company 28. Jan 19 28. Jan 19 5,140,000 HK$2.52 HK$12,964,117
01. Feb 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 31. Jan 19 31. Jan 19 -5,000,000 HK$2.55 HK$-12,749,993
21. Jan 19 Sell Zhejiang Longsheng Group Co., Ltd. Company 18. Jan 19 18. Jan 19 -5,000,000 HK$2.34 HK$-11,700,009
08. Jan 19 Buy Wenfang Zhang Individual 27. Dec 18 27. Dec 18 19,073,000 HK$2.20 HK$41,960,613
X
Management checks
We assess Flat Glass Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Flat Glass Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

6865 News

Simply Wall St News

Should We Be Delighted With Flat Glass Group Co., Ltd.'s (HKG:6865) ROE Of 11%?

We'll use ROE to examine Flat Glass Group Co., Ltd. … Over the last twelve months Flat Glass Group has recorded a ROE of 11%. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Be Concerned With Flat Glass Group Co., Ltd.'s (HKG:6865) -4.3% Earnings Drop?

After reading Flat Glass Group Co., Ltd.'s (HKG:6865) latest earnings update (31 December 2018), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … 6865's trailing twelve-month earnings (from 31 December 2018) of CN¥411m has. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 4.6%, indicating the rate at which 6865 is growing has slowed down

Simply Wall St -

What You Must Know About Flat Glass Group Co., Ltd.'s (HKG:6865) Financial Strength

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Flat Glass Group Co., Ltd. … Let’s take a look at 6865’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … View our latest analysis for Flat Glass Group

Simply Wall St -

Do Institutions Own Flat Glass Group Co., Ltd. (HKG:6865) Shares?

If you want to know who really controls Flat Glass Group Co., Ltd. … With a market capitalization of HK$10b, Flat Glass Group is a decent size, so it is probably on the radar of institutional investors. … Check out our latest analysis for Flat Glass Group

Simply Wall St -

Read This Before Selling Flat Glass Group Co., Ltd. (HKG:6865) Shares

We often see insiders buying up shares in companies that perform well over the long term. … Flat Glass Group Insider Transactions Over The Last Year. … In any event it's generally a positive if insiders are buying shares at around the current price

Simply Wall St -

Here's What Flat Glass Group Co., Ltd.'s (HKG:6865) P/E Ratio Is Telling Us

Flat Glass Group has a price to earnings ratio of 8.73, based on the last twelve months. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 8.73 = CN¥2.12 (Note: this is the share price in the reporting currency, namely, CNY ) ÷ CN¥0.24

Simply Wall St -

Should We Be Delighted With Flat Glass Group Co., Ltd.'s (HKG:6865) ROE Of 13%?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Flat Glass Group Co., Ltd. … Flat Glass Group has a ROE of 13%, based on the last twelve months. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Have You Considered This Before Investing In Flat Glass Group Co., Ltd. (HKG:6865)?

Today we will examine Flat Glass Group’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Flat Glass Group’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … The two ways to assess whether Flat Glass Group’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow

Simply Wall St -

One Thing To Remember About The Flat Glass Group Co., Ltd. (HKG:6865) Share Price

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … To use beta as an investor, you must first understand that the overall market has a beta of one. … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

What Kind Of Investor Owns Most Of Flat Glass Group Co Ltd (HKG:6865)?

A look at the shareholders of Flat Glass Group Co Ltd (HKG:6865) can tell us which group is most powerful. … With a market capitalization of HK$3.6b, Flat Glass Group is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Flat Glass Group

Simply Wall St -

6865 Company Info

Description

Flat Glass Group Co., Ltd., together with its subsidiaries, engages in the design, development, production, and sale of glass products in the People's Republic of China, Europe, North America, and internationally. The company offers photovoltaic glass, architectural glass, float glass, household glass, and other types of related products. In addition, it is involved in the extraction of a quartzite mine; electricity generation of solar battery module; and trading of glass products of glass products. The company serves PV module manufacturers, glass processing manufacturers, glass wholesalers, furniture manufacturers and processing companies, furniture retailers, architectural contractors, architectural glass processing companies, and construction companies. Flat Glass Group Co., Ltd. was founded in 1998 and is headquartered in Jiaxing, the People's Republic of China.

Details
Name: Flat Glass Group Co., Ltd.
6865
Exchange: SEHK
Founded: 1998
HK$19,334,050,980
1,950,000,000
Website: http://www.flatgroup.com.cn
Address: Flat Glass Group Co., Ltd.
1999 Yunhe Road,
Xiuzhou District,
Jiaxing,
Zhejiang Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 6865 Foreign Shares- Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 26. Nov 2015
SZSC 6865 Foreign Shares- Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 26. Nov 2015
SZSC 6865 Foreign Shares- Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 26. Nov 2015
SHSE 601865 Domestic Shares Shanghai Stock Exchange CN CNY 15. Feb 2019
XSSC 601865 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 15. Feb 2019
Number of employees
Current staff
Staff numbers
2,842
Flat Glass Group employees.
Industry
Semiconductors
Semiconductors
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 13:00
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/04/21
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.