Editor's note: The 2024 government work report points out that it is necessary to enhance the internal stability of the capital market. The China Securities Regulatory Commission also emphasized that it is necessary to improve the quality of listed companies and increase investment returns. The capital market connects thousands of industries and households, and a capital market that takes into account both "stability" and "progress" is expected by the public.
Listed companies are an important micro foundation for high-quality economic development. As a central media, China.com Finance will launch the special topic of "Double Promotion, Listed Companies in Action" in 2024, which will truly present the problems and practical experience faced by listed companies through reports on improving quality and efficiency, corporate governance and returning investors, explore new quality productivity in the new era, and help listed companies and China's economy develop with high quality.
China Net Finance, April 28 Recently, Fuyao Glass (600660.SH) released its 2023 annual report and 2024 first quarter report, and the company achieved both revenue and net profit growth in each period. On April 26, the share price limit of Fuyao Glass continued to attract market attention, and the closing price was 49.23 yuan per share. This year, the company's stock price has risen by 31.67%, compared with the industry's -13.60% to achieve contrarian growth.
Focusing on its main business and continuous innovation, Fuyao Glass released the 2024 action plan of "Improving Quality and Efficiency and Valuing Returns" to promote the company's continuous optimization of operations, standardize governance and actively return investors, promote high-quality development with new quality productivity, continuously enhance investor confidence, and promote the company's long-term healthy and sustainable development.
Over the past 40 years, Fuyao Group, as a manufacturing practitioner that promotes high-quality development through innovation, has focused on the field of automotive glass, and has continued to help the industry to iterate and upgrade through technological innovation, intelligent manufacturing, green development and other measures, breaking a new path in the field of traditional glass manufacturing, and becoming the world's largest integrated solution provider of automotive glass and automotive trim parts.
At present, Fuyao has established production, marketing and research bases in 18 provinces, autonomous regions and municipalities across the country, as well as 12 countries around the world, including the United States and Russia, and its products have been recognized and selected by well-known car companies such as Bentley, Mercedes-Benz, BMW, and Audi, with a market share of 34%, ranking first in the world.
Sharpening the "edge" of new productivity: scientific and technological innovation expands the boundaries of glassThe new generation of technological revolution is driving the development of automobiles towards the trend of "New Four Modernizations", transforming from a means of transportation to intelligent terminals, and becoming a "third space" outside the home and workplace. Fuyao Group's main car window glass, as an important carrier of display interaction, data transmission and other functions, is being redefined.
Relying on independent innovation to master core technologies, Fuyao Group has built a R&D team of more than 4,500 people, and spends more than 4% of its annual revenue on R&D investment. While ensuring the allocation of talents and funds, Fuyao has also strengthened the allocation of key research projects and platforms, promoted the effective integration of innovation chain and industrial chain, built a cross-border research and innovation platform, and successively established nine national scientific research platforms.
Today, Fuyao has achieved 100% independent and controllable core technologies, presided over or participated in the compilation of 53 domestic and foreign standards, and successfully solved 13 technical problems in the industry. By the end of 2023, Fuyao Group had applied for 3,377 patents worldwide, including 1,367 domestic invention patents and 83 international invention patents, and 2,333 authorized patents worldwide, including 677 domestic invention patents and 11 international invention patents.
It is precisely because of the independent and controllable core technology that Fuyao Group has been able to actively respond to changes in market demand, invest in emerging industries such as intelligent networked new energy vehicles, and inject technology and intelligence into pieces of transparent glass. Fuyao has successively launched dozens of functional innovative products such as lightweight ultra-thin glass, coated glass that can be heated and insulated, and ETC/RFID/5G glass with network antennas, which have been widely welcomed by the market, and some products have been applied to well-known brands such as BMW, Land Rover, General Motors, Volkswagen, and new energy vehicles, and the sales of high value-added products in 2023 will increase by nearly 10% compared with the same period last year.
Among the many new products, the new in-vehicle 5G antenna solution realized by automotive glass is an important achievement of Fuyao's participation in industrial innovation. With the development of a new generation of communication technology, the Internet of Vehicles established by vehicles and people, vehicles, roads, service platforms and other parties has penetrated into all aspects of transportation, and massive information is interconnected, requiring the network to have the characteristics of low latency, ultra-high speed, high reliability and high capacity, therefore, 5G communication technology that can meet the above characteristics has developed rapidly in the automotive industry. According to the survey, at least 20 antennas need to be installed in smart cars with L3 level.
How to install antennas has always been an industry problem that needs to be solved urgently. To this end, Fuyao "hidden" the antenna inside the glass and launched the 5G antenna glass. The new product gives full play to the non-metallic material of glass to the characteristics of non-blocking signals, and directly arranges the antenna in the glass to enhance the reliability and stability of the antenna, without the need for exposed equipment, and realizes the integrated design of the antenna and the glass, which is easy to install. At present, Fuyao's 5G antenna glass can reach a maximum speed of 800Mbps, which is equivalent to downloading a 100MB video in 1 second.
Recasting the "sword body" of new productivity: intelligent manufacturing promotes industrial transformationIf product innovation is the tip of the iceberg on the surface, advanced production capacity is the base of the iceberg under the water, supported by intelligent manufacturing, to ensure that high-tech glass products can be produced with high quality, high quantity and high efficiency.
In 2014, Cao Dewang, chairman of Fuyao Group, put forward two strategies: "leading technology and intelligent production". By 2024, Fuyao Group will be the eleventh year of Industry 4.0, and many phased achievements have emerged in the process of implementing the transformation and upgrading of the manufacturing industry and promoting the high-end and intelligent transformation of the industry.
The first key word of Fuyao Group's layout of intelligent manufacturing is highly automated - "lighthouse factory". In the Fuyao Green Smart Factory, the large-scale skylight automatic production line runs 24 hours a day, and all the heavy labor in the past is handed over to industrial robots to achieve highly automated production on the whole line. This reduces the number of people in the production line by nearly 20%, increases the production efficiency by 200%, and produces a set of skylights every 30 seconds, which is much lower than the production cycle of traditional production lines.
At the same time, Fuyao Group has implemented an online quality control system for AI intelligent visual inspection, which has comprehensively improved product quality. Taking the large skylight production line of the green smart factory as an example, 9 sets of automatic detection systems and 2 monitoring and positioning systems are arranged in 7 key processes of the whole line, and the optical automatic detection system scattered in each key process link has the ability to analyze and judge at the human level, realizing the intelligent quality inspection of the whole process from raw materials to finished products.
Today, Fuyao Group's 30,000 employees have a total of 2,229 industrial robots, with a density of 743 robots per 10,000 employees. According to the statistics of the International Federation of Robotics (IFR), this data is almost twice the density of domestic industrial robots, which is the second highest level in the world.
The second key word of Fuyao Group's layout of intelligent manufacturing is the "Industrial Internet", which is fully connected to the world. More than 50% of Fuyao's self-made CNC machine tools in 50 factories around the world use interconnected sensors and other technologies to access the information processing center, with MES (Manufacturing Execution System) as the core, and optimize the management of the entire production process through information transmission. From the beginning of product order planning to product delivery, real-time data analysis and comparison are realized, providing more scientific basis for cost control, quality assurance and other management decisions.
Not only that, Fuyao has also broken through departmental walls to eliminate information silos, and extended collaboration to the upstream and downstream of the industrial chain. On the demand side, Fuyao realizes synchronous R&D and design with global customers in ten design centers and two R&D centers on three continents, simulates and transforms 3D design results into technical requirements for production and verification, and obtains integrated collaboration capabilities for design and development. On the supply side, Fuyao automatically pushes the material requirements required for its own production to suppliers, improving the efficiency of industrial upstream and downstream chain collaboration and reducing overall costs.
At present, Fuyao has the ability to process complex data online throughout the whole process life cycle. It is estimated that through innovative and intelligent data acquisition technology, Fuyao Group's production efficiency has increased by 30.5%, the product defect rate has been reduced by more than 30%, the energy utilization rate has been increased by 12%, and the design cycle of new products has been shortened by 25% compared with the same industry. Through the construction of digital, networked and intelligent fully connected factories, Fuyao Group has developed a highly flexible production mode of "multi-variety and small batch".
Grasp the "gripper" of new quality productivity: clustering and greening left and right joint forcesThe foothold of the development of new quality production is to realize industrial agglomeration and adhere to the green background, both of which are indispensable.
The first way to grasp the new quality of productivity is large-scale industrial clusters. For more than 40 years, Fuyao Group has always focused on the manufacturing industry, opening up the entire industrial chain vertically and globalizing horizontally, creating a world-class advanced manufacturing cluster.
The complexity of the automotive glass industry chain lies in its length, so Fuyao has a comprehensive layout around the upstream and downstream of automotive glass, which not only opens up the upstream raw material supply, float original sheet production, tooling mold inspection tools and production equipment process R&D and manufacturing, but also opens up the synchronous design and development of downstream car companies, automotive glass production, automotive aluminum trim, hemming and glass assembly, forming a systematic supply solution delivery capacity.
In order to continue to build industrial clusters, Fuyao Group will invest nearly 10 billion yuan to launch two new projects at the beginning of 2024: on January 9, it signed a contract with the Fuqing Municipal Government for an annual output of 4 million sets of smart automotive safety glass production projects, invested 3.25 billion yuan to build a first-class zero-carbon smart factory, and built the world's largest automotive glass export base, and on January 27, invested 5.75 billion yuan in Anhui to build an automotive safety glass project, an auto parts glass project and a float glass project, and built an automotive glass production base for the whole industry chain.
The complexity of the automotive glass industry chain also lies in its breadth, and Fuyao has carried out international cooperation with global car companies to go global and become a leader in the industry. As early as 1991, Fuyao sold its products to North America for the first time, set up a sales center in the United States in 1995, and set up service outlets in the United States and Germany until 2006 to participate in the synchronous design of new cars of international automobile brands.
After 2010, with the implementation of the national "going global" strategy, Fuyao began to enter the world market more deeply through the layout of overseas production bases, and built a "global" brand integrating manufacturing, service, R&D and sales. Relying on the construction and operation of overseas bases, as well as the continuous improvement of product technology level and service capabilities, Fuyao Group's overseas revenue has continued to grow and its market share has continued to increase.
Today, Fuyao's global layout has established modern production bases and business institutions in 12 countries, and linked the world's top ten design centers and two R&D centers in China, the United States, Germany and Japan to realize the interconnection of global customer demand and supply, provide top-level services for global car companies, and become a banner for Chinese manufacturing to the world stage.
The second starting point for grasping new quality productivity is green and low-carbon. In 2022, Fuyao Group formulated the "dual carbon strategic goal", planning to reduce carbon emissions per 10,000 yuan of output value by 50% in 2030 compared with 2019, achieve carbon neutrality for the group in 2040, and achieve carbon neutrality in the supply chain by 2050. In order to achieve the dual carbon goals, Fuyao has integrated the low-carbon concept into every aspect of production and operation, integrating the green concept into the whole process from design, R&D, and manufacturing.
Thanks to a series of effective energy conservation and emission reduction measures, in 2022, Fuyao Group won the "Outstanding Environmental Leadership Award" assessed by the international authoritative environmental organization CDP (Global Environmental Information Research Center), and won the AAA rating in the "Green Development Index Ranking of Automobile and Parts Enterprises" by China Automotive Technology and Research Center (CAE) Data. In 2023, Fuyao Group was selected as one of the "Top 100 Listed Companies (A-shares) in China for Low-Carbon and Sustainable Development" by the World Sustainability Standards Organization (WSSO).
(Editor in charge: Tan Mengtong)