FYG,FUYAO GLASS(SH:600660) Mei Ri Jing Ji Xin Wen·2025-10-16 12:29Core Viewpoint - Fuyao Glass has undergone significant leadership changes with founder Cao Dewang resigning as chairman while remaining a board member, emphasizing the need for new leadership at the age of 80 [2][4] Leadership Changes - Cao Dewang has stepped down as chairman but will continue as a board member and hold various positions in subsidiaries, while being appointed as honorary chairman for life [3][6] - The board has elected Cao Hui as the new chairman of the board [2] Financial Performance - Fuyao Glass reported strong financial results for the first three quarters of 2025, achieving revenue of 33.302 billion yuan, a year-on-year increase of 17.62% [6] - The net profit attributable to shareholders reached 7.064 billion yuan, reflecting a year-on-year growth of 28.93% [6] - The company attributed the profit growth to rapid revenue increase, efficiency improvements, and higher foreign exchange gains [7] Cash Flow - The net cash flow from operating activities for the first three quarters was 9.885 billion yuan, a significant increase of 57.29% compared to the previous year [8] Market Outlook - Research institutions are optimistic about the future of the automotive glass market, with Goldman Sachs noting significant improvements in product structure and gross margin for Fuyao Glass [9] - UBS has recently raised the target price for Fuyao Glass, indicating positive market sentiment [9]