FYG,FUYAO GLASS(SH:600660) Sou Hu Cai Jing·2025-10-17 01:48Core Viewpoint - Fuyao Glass announced the resignation of its founder and chairman, Cao Dewang, who will become the honorary chairman, while his son, Cao Hui, has been elected as the new chairman, indicating a strategic transition in leadership for sustainable development [1][5]. Group 1: Leadership Transition - Cao Dewang, aged nearly 80, stated it is time to retire and pass the company to his son and the capable team [3][6]. - Cao Hui has been involved in the company since 1989, starting from the bottom and recently appointed as the vice chairman [6]. - The company aims to become a century-old enterprise under the new leadership [6]. Group 2: Company Performance - In the first three quarters of the year, Fuyao Glass reported revenue of 33.302 billion yuan, a year-on-year increase of 17.62%, and a net profit of 7.068 billion yuan, up 28.93% [4][5]. - The company has a global market share exceeding 30%, with over 45% of its revenue coming from overseas markets, establishing itself as a leader in the automotive glass sector [4]. Group 3: Philanthropy and Education - Cao Dewang is recognized for his philanthropic efforts, having donated over 12 billion yuan, and has invested heavily in education, including the establishment of Fuyao University [5]. - Fuyao University, set to officially enroll students in the fall of 2024, will be managed by Wang Shuguo, a respected figure in the education sector [3][5].