9 billion yuan! Cao Dewang "shot" twice in one month
Edited by: Du Yu
On the evening of January 25, Fuyao Glass (SH600660, share price of 37.72 yuan, market value of 98.44 billion yuan) announced that the company plans to invest in the establishment of three wholly-owned subsidiaries in Hefei, with a total investment of 5.75 billion yuan, to further expand the company's production and sales scale, and meet the growing demand of the automobile market for the company's automotive safety glass and auto parts glass.
Not long ago, on December 30, 2023, Fuyao Glass disclosed that it plans to set up a wholly-owned subsidiary, Fuyao Glass (Fujian) Co., Ltd. (tentative name), in Fuqing City, Fujian Province, and invest 3.25 billion yuan in the construction of automotive safety glass projects, equipped with advanced modern production equipment, and finally form an annual production scale of about 20.5 million square meters of automotive safety glass.
In less than a month, Cao Dewang made two moves and invested heavily in new projects, with a total investment of 9 billion yuan.
According to media reports, the "China Economic News Figures Review (2023-2024) - Entrepreneurs' Night" was held in Beijing on January 24, with more than 100 entrepreneurs and people from all walks of life attending the event.
Entrepreneur Cao Dewang shared with everyone the journey of Fuyao Glass to become the world's No. 1 automotive glass company through hard work and technological innovation. He said, "We are very proud and comforted to see the demeanor of entrepreneurs, and there are capable people from generation to generation, each leading the way for hundreds of years, this is the age of your young people." He encouraged fellow entrepreneurs, "China is the China of the Chinese, and Chinese entrepreneurs should unite and struggle to face difficulties." ”
Image source: Photo by reporter Zhao Linan
9 billion yuan! Cao Dewang made continuous shots
On the evening of January 25, Fuyao Glass (SH600660, share price of 37.72 yuan, market value of 98.44 billion yuan) announced that the company plans to invest in the establishment of three wholly-owned subsidiaries in Hefei, with a total investment of 5.75 billion yuan, to further expand the company's production and sales scale, and meet the growing demand of the automobile market for the company's automotive safety glass and auto parts glass.
Image source: Screenshot of Fuyao Glass's announcement
Fuyao Glass announced that it plans to invest in the establishment of three wholly-owned subsidiaries, namely Fuyao Glass (Hefei) Co., Ltd., Fuyao Glass (Hefei) Accessories Co., Ltd. and Hefei Fuyao Float Glass Co., Ltd. (tentative name), and invest 5.75 billion yuan for the construction of automotive safety glass projects (OEM supporting market), The auto parts glass project (ARG after-sales maintenance market) and the high-quality float glass project are equipped with advanced modern production equipment, and finally form an annual production scale of about 26.1 million square meters of automotive safety glass and two high-quality float glass production lines.
The reporter of "Daily Economic News" noted that the investment of Fuyao Glass will eventually form an annual production scale of about 26.1 million square meters of automotive safety glass and two high-quality float glass production lines.
It is worth noting that Fuyao Glass did not have much layout in Hefei before. However, in recent years, Hefei's automobile industry has developed rapidly, and Cao Dewang, founder and chairman of Fuyao Glass Industry Group Co., Ltd., has also visited Hefei many times.
As the capital city of Anhui Province, Hefei is the political, economic, cultural and transportation center of Anhui Province, as well as one of the important science and education bases and manufacturing bases in the country. In recent years, Hefei's automobile industry is in a stage of rapid development, especially the new energy track is more prominent, and has been approved by the Ministry of Industry and Information Technology as the only pilot city for the construction of the new energy automobile industry chain supply chain ecosystem in China. Fuyao Glass said.
Fuyao Glass said: "The company has set up a target company in Hefei City, Anhui Province to build automotive safety glass projects (OEM supporting market), auto parts glass projects (ARG after-sales maintenance market) and high-quality float glass projects, and implemented the whole industry chain development model of automotive glass and float glass, which will further expand the company's production and sales scale to meet the needs of the automobile market for the company's automotive safety glass, The growing demand for auto parts glass further guarantees the continuous and stable supply of automotive glass raw materials, reduces supply risks, and produces synergistic effects, which will help improve the company's sales and service capabilities, continue to enhance the siphon effect of the company's head enterprises, enhance the company's cooperation stickiness with automobile manufacturers, improve the company's comprehensive competitiveness and expand the company's competitive advantage, and promote the company's sustainable and stable development. ”
According to the Shanghai Securities News, not long ago, on December 30, 2023, Fuyao Glass disclosed that it plans to set up a wholly-owned subsidiary Fuyao Glass (Fujian) Co., Ltd. (tentative name) in Fuqing City, Fujian Province, and invest 3.25 billion yuan in the construction of automotive safety glass projects, equipped with advanced modern production equipment, and finally form a production scale of about 20.5 million square meters of automotive safety glass per year.
At the subsequent signing ceremony of the project, the company announced that the project is expected to achieve an annual output value of about 3 billion yuan, an annual contribution of more than 200 million yuan in taxes, and about 3,000 jobs.
Two consecutive large-scale investments, with a total amount of up to 9 billion yuan. A researcher at a brokerage firm who has been tracking Fuyao Glass for a long time said that Fuyao Glass has always been cautious, and such a large investment reflects the company's optimistic judgment on the market prospects.
According to another inquiry, Fuyao Glass's latest large-scale investment can be traced back to the Suzhou project. The project started in 2017, with a planned total investment of 2.2 billion yuan, covering an area of 470 acres, with a design production capacity of 4 million sets of automotive glass and 16 million pieces of edging assembly glass, and is expected to have an annual output value of more than 5 billion yuan after reaching production.
Image source: Visual China-VCG111307309386 (unrelated to the picture and text)
Cao Dewang's speech at the Entrepreneurs' Night: China is the China of the Chinese
According to the Beijing News, the "China Economic News Figures Review (2023-2024) - Entrepreneur Night" was held in Beijing on January 24, with more than 100 entrepreneurs and people from all walks of life attending the event.
Entrepreneur Cao Dewang shared with everyone the journey of Fuyao Glass to become the world's No. 1 automotive glass company through hard work and technological innovation. He said, "We are very proud and comforted to see the demeanor of entrepreneurs, and there are capable people from generation to generation, each leading the way for hundreds of years, this is the age of your young people." He encouraged fellow entrepreneurs, "China is the China of the Chinese, and Chinese entrepreneurs should unite and struggle to face difficulties." ”
Cao Dewang introduced what he was doing: building a university and donating 10 billion yuan to build a private university for Chinese. And this idea originated from a passive "vacation". During the "vacation", Cao Dewang reflected on the whole process of his own business and reviewed what he had done, "I think my life is also quite worthwhile, although I was born in a difficult family, but through my own hard work, Fuyao Group is now the world's largest automotive glass company, and is deeply trusted and supported by customers at home and abroad." ”
When it comes to running a university, Cao Dewang said that because he is afraid of the sun, when it is hot in summer, he goes to inspect the construction site at 5 o'clock in the morning, "In fact, there is no problem if I don't go, but if I go, I will solve the problem faster, and now I have achieved good results."
Cao Dewang mentioned that many people have visited Fuyao University of Science and Technology, and during the conversation, he found that at least more than half of these people are anxious, saying that their business is very difficult. "I tell them openly that you don't have faith."
Cao Dewang also said that as an entrepreneur, although he has not participated in (macro) decision-making, but he has participated in the implementation, when implementing, entrepreneurs are the vanguard, stricter than anyone else, therefore, now when encountering difficulties, the best way is not to study and shirk whose responsibility, but to study how to practice, "how this problem arises, what method can be used to solve the problem most effectively, this is the best policy."
Cao Dewang said that we should unite and face the current reality positively, objectively and realistically, and discuss research and explore ways to solve problems.
"China is the China of the Chinese, and it depends on each and every one of us Chinese to defend China and build China." All of you here are members of the country's elite, and you must shoulder your own mission and responsibility of the times. He said.
The Daily Economic News integrates Shanghai Securities News, Beijing News, Daily Economic News (reporter Zhao Linan), Fuyao Glass announcements, and public information