At present, Fuyao Glass founded by Cao Dewang has occupied more than 60% of the domestic automotive glass market, and in the global market, the market share of Fuyao Glass has also exceeded 20%.
At the same time, Fuyao is also the enterprise most focused on automotive glass,
Such a successful entrepreneur also has such a deep sense of home and country. Recently, in the interview column of the media, he asked: Why did you give up the green card in the early years?
Cao Dewang said: as early as 2005, he gave up the U.S. green card, because Fuyao Glass was successfully put into production at that time,In the future, Fuyao is synonymous with auto glass, so Fuyao Group should belong to Chinese people, be responsible for itself and account for history.(Video Click here to watch)
At present, Fuyao Glass has not only become the head of domestic automotive glass industry, but also a world-class automotive glass enterprise through the global acquisition of automotive glass industry chain enterprises.
At present, there are four leading enterprises in the global automotive glass industry, namely xunifi, Fuyao Glass, bannifi and Saint Gobain. Compared with the other three, Fuyao Glass can be said to be the most focused on automotive glass business, accounting for more than 90% of the group's total revenue.
In addition, the future market competition is the competition of core technology and cost. Fuyao Glass is not stingy in R & D investment.
The R & D cost of Fuyao Glass was 520 million yuan in 2014, increased to 813 million yuan in 2019, and the compound growth rate from 2014 to 2019 was 24.2%.
The proportion of R & D expenses in the revenue has been maintained at more than 4%, higher than 3% of xunifi, 1.5% of bannifi and 1.1% of Saint Gobain.
In terms of cost control, Fuyao Glass is the undisputed first in the world,In 2019, Fuyao's gross profit rate is 37.5%, which is lower than 42% in previous years, but it is still far higher than 26.5% of xunifi, 26.2% of bannifi and 25.5% of Saint Gobain.
At the end of October last year, Fuyao Glass released the company's third quarter report, which showed that the operating revenue of the first three quarters was 13.776 billion yuan, a year-on-year decrease of 11.88%; the net profit was 1.72 billion yuan, a year-on-year decrease of 26.58%.
The reason for the decline is due to the impact of the epidemic and the slowdown of overseas automobile consumption. However, with the recovery of automobile consumption in the later period, some data show that,It is estimated that the operating revenue of Fuyao Glass in 2021 will be about 23 billion yuan, an increase of 18% compared with that in 2020.
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