FYG,FUYAO GLASS(SH:600660) Sou Hu Cai Jing·2025-10-17 06:50Core Viewpoint - Fuyao Glass has undergone a significant leadership transition with the resignation of Chairman Cao Dewang and the appointment of his son, Cao Hui, as the new chairman, marking a historic handover in the company [1][2]. Group 1: Leadership Transition - Cao Dewang, aged 80, resigned to promote strategic optimization of the company's governance structure and sustainable development, while expressing confidence in his son, Cao Hui, who is 55 years old [1][2]. - Cao Hui has been involved in the company since 1989, starting as a grassroots worker before becoming the general manager in 2006, during which he successfully increased the market share of Fuyao Glass from 60% in China to 25% globally [3][6]. Group 2: Company Performance and Strategy - Fuyao Glass holds the largest market share in the automotive glass industry, with approximately 70% in China and 25% globally, and has recently achieved a global market share of 34% [3][6]. - The company has successfully navigated challenges such as the 2018 US-China trade dispute by establishing a manufacturing presence in the US, demonstrating resilience and strategic foresight [6]. Group 3: Future Outlook - The transition to Cao Hui as chairman is expected to be smooth, with the company stating that this change will not adversely affect normal business operations [7]. - Cao Hui's experience, combined with support from key executives, positions Fuyao Glass for continued stability and growth in the future [7].