Zhong Guo Zheng Quan Bao·2025-10-16 11:34Core Viewpoint - Fuyao Glass announced a significant leadership change with Chairman Cao Dewang resigning from his position, while his son, Cao Hui, has been elected as the new chairman. This transition is part of the company's strategic governance optimization and sustainable development efforts [1][4]. Group 1: Leadership Changes - Cao Dewang submitted his resignation as chairman but will continue to serve as a director and in various roles within the company and its subsidiaries [1]. - Cao Hui, the son of Cao Dewang, has been elected as the new chairman and appointed as the legal representative and head of the board's strategic development committee [1]. - Cao Dewang has been appointed as the lifetime honorary chairman of Fuyao Glass [1]. Group 2: Company Background - Cao Dewang is one of the founders and key operators of Fuyao Glass, having worked in the industry since 1976 [3]. - The company specializes in providing safety glass and complete solutions for various transportation vehicles, including automotive-grade float glass, automotive glass, motorcycle glass, and related products [3]. Group 3: Financial Performance - For the third quarter, Fuyao Glass reported a revenue of 11.855 billion yuan, an increase of 18.86% year-on-year [4]. - The revenue for the first three quarters reached 33.302 billion yuan, reflecting a year-on-year growth of 17.62% [4]. - The net profit for the third quarter was 2.259 billion yuan, up 14.09% year-on-year, while the net profit for the first three quarters was 7.064 billion yuan, showing a significant increase of 28.93% [4].