Fuyao Glass revenue jumps 18% in 2024, dividend boosted

Fuyao Glass Industry Group (HKEX: 3606) announced a robust 18.37% increase in revenue, reaching RMB39.25 billion for 2024, alongside a proposed cash dividend of RMB1.80 per share, representing 62.65% of net profit. The company's annual profit attributable to shareholders rose 33.20% to RMB7.49 billion, with earnings per share increasing 32.87% to RMB2.87. Fuyao Chairman Cho Tak Wong acknowledged economic uncertainty in 2025 but emphasized leveraging the company's strengths, including production capacity and customer base. Key financial indicators highlighted in the annual report include a gross profit margin of 35.53% and a return on equity of 21.00%. The company is moving towards increased sales of high value added products. The company's board has approved plans to ensure that production targets will be achieved in 2025.