<div id="readability-page-1"><div><p>China Glass Holdings (SEHK:3300) has reported FY 2025 first half revenue of C¥2,153.5 million with a basic EPS loss of C¥0.15, while trailing twelve month figures show revenue of C¥5,207.6 million and basic EPS of C¥0.06. Over recent half year periods, the company has seen revenue move from C¥2,683.5 million in 1H FY 2024 to C¥3,054.1 million in 2H FY 2024 and then to C¥2,153.5 million in 1H FY 2025. Over the same intervals, EPS shifted from a loss of C¥0.07 to a loss of C¥0.45 and then to a loss of C¥0.15, creating a mixed margin picture that investors will be watching closely.</p> <p>See our full analysis for China Glass Holdings.</p><p>With the headline numbers on the table, the next step is to see how this earnings profile lines up against the dominant narratives around China Glass Holdings and where those stories might need updating.</p> <p>Curious how numbers become stories that shape markets? Explore Community Narratives</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/954caa78-37fa-46cd-8ed0-0bab5d185039/chart/earnings-and-revenue-history/query-ZGF0ZT0yMDI2LTA0LTAx?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/954caa78-37fa-46cd-8ed0-0bab5d185039/chart/earnings-and-revenue-history/query-ZGF0ZT0yMDI2LTA0LTAx"/><figcaption>SEHK:3300 Earnings &amp; Revenue History as at Apr 2026</figcaption></figure> <h2>Trailing profit but current half still loss making</h2> <ul> <li>Over the last 12 months, net income excluding extra items totaled C¥846.9 million with basic EPS of C¥0.06, while the latest 1H FY 2025 period on its own showed a net loss of C¥258.5 million and a basic EPS loss of C¥0.15.</li> <li>What stands out for a bullish angle is that trailing earnings are positive even though recent halves still show losses. This creates a mixed picture for anyone arguing the turnaround is already firmly in place.     <ul> <li>Bulls pointing to the trailing C¥5,207.6 million of revenue and C¥846.9 million of net income as evidence of high quality earnings also need to weigh the fact that the last three half year periods each reported losses ranging from C¥119.0 million to C¥757.6 million.</li> <li>This contrast between a positive trailing EPS of C¥0.06 and three consecutive half year losses challenges any simple bullish story that the business has already moved cleanly past its weaker five year earnings history, which was described as declining at 46.8% per year.</li> </ul> </li> </ul> <h2>Very low 1x P/E with DCF gap</h2> <ul> <li>The trailing P/E sits at 1x compared with 17.7x for the wider Asian building industry and 26.5x for peers, and the current price of HK$0.52 is below the stated DCF fair value of about HK$0.78. This implies the shares trade around 33.3% under that DCF fair value reference point.</li> <li>What is interesting for the bullish narrative is that this combination of a 1x P/E and a price that is below the DCF fair value is being set against a history of weaker long term earnings, so the valuation gap is not coming without strings attached.     <ul> <li>Supporters who see upside in the roughly one third discount to the HK$0.78 DCF fair value also have to accept that five year earnings have been described as shrinking at 46.8% per year, which helps explain why the market has assigned such a low multiple.</li> <li>At the same time, the move to trailing profitability and the description of high quality earnings give bulls specific numbers to point to when arguing that a 1x P/E looks unusually low if those earnings can be maintained.</li> </ul> </li> </ul> <h2>Balance sheet stress alongside share volatility</h2> <ul> <li>Recent analysis flags that interest payments are not well covered by earnings and that shareholders’ equity is negative, while the share price has also been more volatile than the wider Hong Kong market over the last three months.</li> <li>Critics focusing on the bearish narrative around financial risk find plenty of support in these figures, because weak interest coverage and negative equity sit uncomfortably next to the value signals.     <ul> <li>The warning that earnings do not adequately cover interest expense means that even with trailing net income of C¥846.9 million, the company still faces pressure when servicing its debt, which is exactly what bears worry about when looking at low multiple stocks.</li> <li>On top of that, negative shareholders’ equity and above market share price volatility show that the capital structure and trading profile carry risk, so the low 1x P/E and discount to HK$0.78 DCF fair value are not simply a free opportunity but come with balance sheet constraints that cautious investors will keep front of mind.</li> </ul> </li> </ul> <p>If you want to see how other investors are weighing this mix of low valuation, recent profitability and balance sheet pressure, it is worth looking at how the broader community is joining the dots between these numbers Curious how numbers become stories that shape markets? Explore Community Narratives</p> <h2>Next Steps</h2> <p>Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on China Glass Holdings's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.</p> <p>Given the mix of concern and optimism in the numbers, it makes sense to review the details yourself and move quickly to shape your own view with 2 key rewards and 3 important warning signs.</p> <h2>See What Else Is Out There</h2> <p>China Glass Holdings combines a very low 1x P/E and discount to its stated DCF value with consecutive losses, weak interest coverage and negative shareholders’ equity.</p> <p>If you want ideas where financial strength is more central to the story, it is worth checking companies in the solid balance sheet and fundamentals stocks screener (380 results) so you can compare this balance sheet pressure with businesses built on sturdier foundations.</p> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><h3><strong>New: </strong>AI Stock Screener &amp; Alerts</h3><p>Our new AI Stock Screener scans the market every day to uncover opportunities.</p><div><p>• Dividend Powerhouses (3%+ Yield)<br/>• Undervalued Small Caps with Insider Buying<br/>• High growth Tech and AI Companies</p><p>Or build your own from over 50 metrics.</p></div><p>Explore Now for Free</p></div></div></div>

03300

<p>China Glass Holdings (SEHK:3300) reported a narrowed loss of C¥0.15 EPS for FY 2025's first half, with revenue at C¥2,153.5 million. Despite trailing twelve-month revenue of C¥5,207.6 million and positive EPS of C¥0.06, the company has faced three consecutive half-year losses. The trailing P/E is low at 1x compared to industry averages, indicating potential undervaluation, but concerns about negative equity and interest coverage persist. Investors are cautious due to the mixed financial outlook and volatility in share price.</p>

China Glass Holdings (SEHK:3300) Loss Narrows To C¥0.15 EPS And Tests Turnaround Narrative