Xin Lang Cai Jing·2025-10-16 10:25Core Viewpoint - Fuyao Glass's chairman, Cao Dewang, has submitted his resignation but will continue to serve as a director and hold other positions within the company, while Cao Hui has been elected as the new chairman [1][2] Group 1: Leadership Changes - Cao Dewang has resigned as chairman but remains a director and will serve as the honorary chairman for life [2] - Cao Hui, son of Cao Dewang, has been elected as the new chairman and legal representative of the company [1][2] Group 2: Company Background and Achievements - Fuyao Glass has grown from a small factory to a multinational industrial group, holding a 25% market share in the global automotive glass industry [2] - The company has established production bases in 18 provinces in China and 12 countries, employing approximately 37,000 people globally [2] Group 3: Financial Performance - For Q3 2025, Fuyao Glass reported revenue of 11.855 billion yuan, a year-on-year increase of 18.86%, and a net profit of 2.259 billion yuan, up 14.09% [3] - From the beginning of 2025 to the end of the reporting period, the company achieved revenue of 33.302 billion yuan, a 17.62% increase, and a net profit of 7.064 billion yuan, up 28.93% [3] Group 4: Investments and Expansion - Fuyao Glass has invested significantly in the U.S., including a $650 million investment to expand its Ohio factory and an additional $400 million for a new production line [4] - The company aims to ensure raw material supply and reduce production costs through these investments [4] Group 5: Cultural Impact - The establishment of Fuyao Glass's U.S. factory has been documented in the Oscar-winning film "American Factory," highlighting the cultural challenges faced [5]