Fuyao Glass Group-Focusing on glass industry
Recently, a documentary named “American factory” which introduced Fuyao Glass has
received wide attention and heated discussion. In reality, whether its factory in America or China,Fuyao Glass’s achievements are gratifying.
Recently, Fuyao’s 2019 semi-annual report revealed that under the background of slowing global economic growth, increasing downward pressure on the domestic economy and sustained negative growth in the auto industry, Fuyao achieved operating income of 10.287 billion yuan in the first half of this year, an increase by 2%.
Innovation is the soul. In recent years, with the accelerated development of automotive electrification and intelligent technology, Fuyao has continued to promote the development of automotive glass in the direction of energy saving, environmental protection and intelligent integration. The sales of glass products such as heat insulation, head-up display and oversized size are also constantly improving. In the first half of this year, the sales of Fuyao’s high value-added
products increased by nearly 2 percentage points year-on-year.
Fuyao has implemented the global development strategy following the industry chain, exerted the leading role of sales, and established an all-round sales management mechanism. The domestic and foreign market share of Fuyao has been optimized from 61.35:38.65 last year to
The market structure is further balanced, and Fuyao’s ability to resist market risks has been further enhanced. In the case of continued decline in domestic car sales and slowdown in sales of auto glass, Fuyao’s “US factory” performance is eye-catching. In the first half of this year, Fuyao America and its subsidiaries achieved operating income of 1.9 billion yuan, a year-on-year increase of 13.7%; net profit increased by 16.4% year-on-year to 150 million yuan.
As an important part of Fuyao’s “going out”strategy, the “American Factory” has become more and more prominent in supporting Fuyao’s accelerated development. At present, Fuyao Glass has a market share of 17% in the United States. It is a supplier to GM and Ford, and also provides automotive glass products for Japanese and other brands.