Fuyao Glass founder steps down as Q3 revenue jumps

Fuyao Glass Industry Group announced robust financial performance for the third quarter of 2025, with revenue reaching RMB 11,854,516,214, an 18.86% increase year-on-year. Net profit attributable to shareholders grew by 14.09% to RMB 2,259,142,444. Year-to-date, revenue surged 17.62% to RMB 33,301,907,930, and net profit attributable to shareholders rose 28.93% to RMB 7,063,854,155. The company attributed this growth to increased revenue and improved quality and efficiency, alongside exchange gains.

In a significant leadership transition, founder Cao Dewang resigned as chairman, transitioning to lifetime honorary chairman. Cao Dewang will continue to serve as a director and strategic advisor. Cao Hui, formerly vice chairman, was elected as the new chairman and legal representative, effective October 16, 2025. These changes are expected to optimize corporate governance and ensure sustainable development.

Additionally, Fuyao Glass announced a forecast of RMB 17,590.00 in related-party transactions with Trinova Packaging (Fuzhou) Co., Ltd. for 2026, primarily for raw material purchases and labor services. The company also updated its "External Investment Management System" and other corporate governance rules.