3 stories mentioning SHA:601865Updated 7m ago
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Flat Glass (SHA:601865, HKG:6865) will inject 95 million yuan in capital into Shanghai Fulairuicheng New Materials, according to a Thursday filing with the Shanghai bourse.The additional investment will raise the subsidiary's registered capital to 300 million yuan from 205 million yuan.Shares in the glass maker fell 1% during the afternoon session on Thursday.
Flat Glass Group (HKG:6865, SHA:601865) agreed to acquire the remaining 60% equity interest it does not own in Shanghai Fulai Ruicheng New Materials from Jiaxing Yihe Investment for 60 million yuan.The acquisition will give the company, which already owns 40% interest in the target, complete control over it and the ability to steer its R&D priorities, market strategies, and resource deployment.Shanghai Fulai Ruicheng New Materials engages mainly in the R&D and promotion services of new material technologies, as well as sales of glass and optical products and materials and non-metallic minerals and products.
Flat Glass (HKG:6865, SHA:601865) expects an attributable loss of between 300 million yuan and 400 million yuan for the six months ended June 30, compared with an attributable profit of 261.1 million yuan a year prior, according to a Tuesday bourse filing.The solar glass manufacturer attributed the forecast to operational pressure on its photovoltaic glass business wing, as well as the expected recognition of impairment provisions related to glass furnaces undergoing cold repair and certain photovoltaic glass inventories.
