FYG,FUYAO GLASS(SH:600660) Zhong Guo Ji Jin Bao·2025-10-16 12:18Core Viewpoint - The resignation of Cao Dewang as chairman of Fuyao Glass is aimed at optimizing the company's governance structure and ensuring sustainable development, with his son Cao Hui elected as the new chairman [1][4][5]. Group 1: Leadership Changes - Cao Dewang has resigned from his position as chairman, which was originally set to last until January 2027, to facilitate a transition to a new generation of leadership [1][4]. - Cao Hui has been elected as the new chairman and appointed as the legal representative and head of the board's strategic development committee [4][5]. - Cao Dewang will continue to serve as a director and hold various positions in subsidiaries, while being named the lifetime honorary chairman of the company [4][7]. Group 2: Personal Insights - In an interview, Cao Dewang expressed his desire to retire at the age of 80, believing that stepping down would benefit Fuyao Glass and allow new leadership to take over [4][5]. - He confirmed that he is in good health and will not be involved in the management of Fuyao Technology University, which will be overseen by Wang Shuguo [5][7]. Group 3: Company Performance - Fuyao Glass reported a revenue of 33.302 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 17.62% [7]. - The net profit for the same period was 7.064 billion yuan, showing a year-on-year growth of 28.93% [7]. - As of October 16, 2025, Fuyao Glass's stock price increased by 0.47%, closing at 66.88 yuan per share, with a market capitalization exceeding 170 billion yuan [7].