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CHINA GLASS HOLDINGS LIMITED
中 國 玻 璃 控 股 有 限 公 司 *
(Incorporated in Bermuda with limited liability)
(Stock Code: 3300)
OPERATIONAL UPDATE FOR THE THREE MONTHS
ENDED 31 MARCH 2021
This is an announcement made by China Glass Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to provide an operational update on the business of the Group.
In the three months ended 31 March 2021 (the "First Quarter of 2021"), the Group recorded:
sales amount of approximately RMB793 million from sale of glass products, representing an increase of approximately 73% compared to the three months ended 31 March 2020 (the "First Quarter of 2020"); and
sales volume of approximately 7.42 million weight cases of glass products, representing an increase of approximately 40% compared to the First Quarter of 2020.
The increase in sales amount and sales volume of the Group from sale of glass products was mainly attributable to the combined effect of: (i) the strong performance of the glass industry in China continuing the trend from 2020, leading to historical levels in terms of product price and demand to supply ratio, despite the first quarter is typically a low season for the industry; (ii) a standardized and flexible pricing and sales model formulated on the Group's diversified and flexible sales strategy through close monitoring of both the domestic and overseas markets and focusing on and maximizing the synergy of the sales strategies of our various domestic and overseas production bases, thus maximizing the sales gain of the Group; and (iii) the timely adjustment of the Group's product mix and centralized production plans based on the market position and supply and demand dynamics of each production base.