SEHK:6865

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Executive Summary

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. More Details


Snowflake Analysis

Exceptional growth potential with proven track record.


Similar Companies

Share Price & News

How has Flat Glass Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 6865's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-22.3%

6865

-7.4%

HK Semiconductor

-0.6%

HK Market


1 Year Return

419.3%

6865

109.2%

HK Semiconductor

0.9%

HK Market

Return vs Industry: 6865 exceeded the Hong Kong Semiconductor industry which returned 111.5% over the past year.

Return vs Market: 6865 exceeded the Hong Kong Market which returned 0.7% over the past year.


Shareholder returns

6865IndustryMarket
7 Day-22.3%-7.4%-0.6%
30 Day15.0%9.0%0.02%
90 Day77.1%-0.7%-1.7%
1 Year424.8%419.3%111.3%109.2%5.1%0.9%
3 Year1,385.5%1,324.3%106.5%99.4%-6.1%-16.3%
5 Yearn/a130.8%112.1%14.1%-5.3%

Price Volatility Vs. Market

How volatile is Flat Glass Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Flat Glass Group undervalued compared to its fair value and its price relative to the market?

22.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 6865 (HK$19.94) is trading below our estimate of fair value (HK$25.62)

Significantly Below Fair Value: 6865 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 6865 is poor value based on its PE Ratio (36.7x) compared to the HK Semiconductor industry average (35x).

PE vs Market: 6865 is poor value based on its PE Ratio (36.7x) compared to the Hong Kong market (11.3x).


Price to Earnings Growth Ratio

PEG Ratio: 6865 is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: 6865 is overvalued based on its PB Ratio (6.4x) compared to the HK Semiconductor industry average (1.4x).


Next Steps

Future Growth

How is Flat Glass Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

44.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6865's forecast earnings growth (44.5% per year) is above the savings rate (1.6%).

Earnings vs Market: 6865's earnings (44.5% per year) are forecast to grow faster than the Hong Kong market (22.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 6865's revenue (37.1% per year) is forecast to grow faster than the Hong Kong market (13.3% per year).

High Growth Revenue: 6865's revenue (37.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 6865's Return on Equity is forecast to be high in 3 years time (27.1%)


Next Steps

Past Performance

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

8.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 6865 has a high level of non-cash earnings.

Growing Profit Margin: 6865's current net profit margins (17.4%) are higher than last year (12.6%).


Past Earnings Growth Analysis

Earnings Trend: 6865's earnings have grown by 8.6% per year over the past 5 years.

Accelerating Growth: 6865's earnings growth over the past year (100.3%) exceeds its 5-year average (8.6% per year).

Earnings vs Industry: 6865 earnings growth over the past year (100.3%) exceeded the Semiconductor industry 24.1%.


Return on Equity

High ROE: 6865's Return on Equity (17.5%) is considered low.


Next Steps

Financial Health

How is Flat Glass Group's financial position?


Financial Position Analysis

Short Term Liabilities: 6865's short term assets (CN¥5.9B) exceed its short term liabilities (CN¥3.7B).

Long Term Liabilities: 6865's short term assets (CN¥5.9B) exceed its long term liabilities (CN¥2.3B).


Debt to Equity History and Analysis

Debt Level: 6865's debt to equity ratio (69.8%) is considered high.

Reducing Debt: 6865's debt to equity ratio has increased from 52.7% to 69.8% over the past 5 years.

Debt Coverage: 6865's debt is well covered by operating cash flow (33%).

Interest Coverage: 6865's interest payments on its debt are well covered by EBIT (17.8x coverage).


Balance Sheet


Next Steps

Dividend

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

0.75%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 6865's dividend (0.75%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.24%).

High Dividend: 6865's dividend (0.75%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.82%).


Stability and Growth of Payments

Stable Dividend: 6865 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are stable.

Growing Dividend: 6865 is not paying a notable dividend for the Hong Kong market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: 6865 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 6865's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

22.3yrs

Average management tenure


CEO

Hongliang Ruan (58 yo)

14.83yrs

Tenure

CN¥965,239

Compensation

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 Gen ...


CEO Compensation Analysis

Compensation vs Market: Hongliang's total compensation ($USD144.13K) is below average for companies of similar size in the Hong Kong market ($USD815.42K).

Compensation vs Earnings: Hongliang's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Hongliang Ruan
Founder14.83yrsCN¥965.24k22.5%
CN¥ 17.4b
Jinhua Jiang
Deputy Chairman & Deputy GM14.83yrsCN¥741.45k16.58%
CN¥ 12.8b
Yezhong Wei
Co-Founder11.17yrsCN¥632.83k0.89%
CN¥ 685.8m
Qifu Shen
Executive Director5.75yrsCN¥621.05k0.59%
CN¥ 457.2m
Wenrong Zheng
Co-Founder & Chairman of Board of Supervisors5.75yrsCN¥280.00k2.66%
CN¥ 2.1b
Fuquan Shen
Co-Founder & Supervisor5.75yrsCN¥280.00k1.77%
CN¥ 1.4b
Quanming Zhu
Co-Founder & Supervisor5.75yrsCN¥242.00k1.77%
CN¥ 1.4b
Xinhua Chen
22.33yrsno datano data
Haiming Zou
22.33yrsno datano data
Hui Fen Wang
22.33yrsno datano data
Shuying Luo
22.33yrsno datano data
Lingen Xu
22.33yrsno datano data

22.3yrs

Average Tenure

58yo

Average Age

Experienced Management: 6865's management team is seasoned and experienced (22.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Hongliang Ruan
Founder14.83yrsCN¥965.24k22.5%
CN¥ 17.4b
Jinhua Jiang
Deputy Chairman & Deputy GM14.83yrsCN¥741.45k16.58%
CN¥ 12.8b
Yezhong Wei
Co-Founder11.17yrsCN¥632.83k0.89%
CN¥ 685.8m
Qifu Shen
Executive Director5.75yrsCN¥621.05k0.59%
CN¥ 457.2m
Wenrong Zheng
Co-Founder & Chairman of Board of Supervisors5.75yrsCN¥280.00k2.66%
CN¥ 2.1b
Fuquan Shen
Co-Founder & Supervisor5.75yrsCN¥280.00k1.77%
CN¥ 1.4b
Quanming Zhu
Co-Founder & Supervisor5.75yrsCN¥242.00k1.77%
CN¥ 1.4b
Ki Hung Ng
Independent Non-Executive Director5.75yrsCN¥80.00kno data
Xiaozhong Cui
Independent Non-Executive Director3.92yrsCN¥80.00kno data
Fulan Hua
Independent Non-executive Director1.92yrsCN¥80.00kno data
Huizhen Zhang
Staff Representative Supervisor1.08yrsno datano data
Liping Niu
Staff Representative Supervisor1.08yrsno datano data

5.8yrs

Average Tenure

57yo

Average Age

Experienced Board: 6865's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: 6865 insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Flat Glass Group Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Flat Glass Group Co., Ltd.
  • Ticker: 6865
  • Exchange: SEHK
  • Founded: 1998
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: HK$77.327b
  • Shares outstanding: 1.95b
  • Website: https://www.flatgroup.com.cn

Number of Employees


Location

  • Flat Glass Group Co., Ltd.
  • 1999 Yunhe Road
  • Xiuzhou District
  • Jiaxing
  • Zhejiang Province
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6865SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign Shares- Foreign ListedHKHKDNov 2015
6865SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesForeign Shares- Foreign ListedHKHKDNov 2015
FGSG.FOTCPK (Pink Sheets LLC)YesForeign Shares- Foreign ListedUSUSDNov 2015
601865SHSE (Shanghai Stock Exchange)Domestic SharesCNCNYFeb 2019
601865XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)Domestic SharesCNCNYFeb 2019

Biography

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 internat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/19 12:40
End of Day Share Price2020/10/19 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.