Fuyao has been making a piece of glass for more th

For more than 40 years, Fuyao has made a piece of glass

Xinhua news agency, Shanghai, September 9 (Qin Secretary of Shanghai Securities News)

recently, the first stop of the research activity "value led investment · 2020 Shanghai stock exchange company quality line" jointly sponsored by Shanghai Stock Exchange and local securities regulatory bureaus entered Fuyao Glass and interviewed caodewang, chairman of Fuyao Glass. Facing the drastic changes in the external environment, Cao Dewang said, "we should actively face the reality and meet this challenge." Caodewang believes that the fundamental reason for many problems of the company at present is that it has made a lot of unproductive investments in the early stage. "Fuyao attaches great importance to the input-output ratio, and those that have no benefits should not be invested."

"Fuyao makes things very traditional. The market puts forward intelligent and personalized requirements for glass. If we want to make money, we must meet the requirements of the market and constantly develop marketable products." Cao Dewang said

constantly expanding glass boundary

how does a small piece of automotive glass become the first in the world

according to the financial report of Fuyao Glass, the company achieved an operating revenue of 21.1 billion yuan and a net profit of 2.898 billion yuan attributable to shareholders of Listed Companies in 2019. In the first half of this year, the operating revenue was 8.1 billion yuan and the net profit was 960 million yuan. In the automotive glass market, Fuyao Glass has a domestic market share of 65%. In every three cars running on the street, two are equipped with glass produced by Fuyao Glass, while the global market share is 25%

"we have made a piece of glass for more than 40 years." This is a typical caodewang style answer. In his view, this is "focus on winning"

it is also a piece of glass. Why do many auto giants choose Fuyao Glass? "Because I can meet his requirements, if I want to make money, I must meet his requirements." Cao Dewang said. The logic is direct and in one step. It is understood that Fuyao Glass has been trying to expand the boundaries of glass and improve the added value of products. From the five dimensions of safety and comfort, intelligent control, energy conservation and environmental protection, beauty and fashion, and integrated assembly, Fuyao Glass has developed a variety of high value-added products, such as HUD head up display glass, sound insulation glass, hydrophobic glass, intelligent dimming glass, coated glass, ultra ultraviolet insulation and burning directly into calcium carbonate insulating glass, etc

in the Fuyao Glass products exhibition hall, the R & D personnel introduced several new products to Shanghai Securities News. For example, the intelligent dimming skylight adds a dimming film between the glasses, and changes the light transmittance of the glass by adjusting the current to make the particles in the film arrange in a certain direction. According to reports, the application of dimmable glass skylights, on the one hand, can protect passengers' privacy, but also more personalized and intelligent, and can adjust the light transmittance of the glass in grades. In addition, in the future, with the maturity of technologies such as autonomous driving, these smart glasses can also be incarnated into screens, using display or projection technology to provide audio-visual entertainment for people in the car

public information shows that on June 1 this year, Fuyao Glass signed a contract with BOE. The two sides will combine their own industrial resources and technological advantages to carry out strategic cooperation in the fields of automotive intelligent dimming glass and window display, and jointly promote the application of smart windows products in the field of passenger cars. The purpose of innovation is to make drivers have a more pleasant experience. Such as the head up display glass, the vehicle operation information is clearly projected onto the glass in front of the driver. During the driving process, the driver can know the vehicle information without looking down. There is also hydrophobic glass. Using the sol gel method, a layer of fluorocarbon film is formed on the surface of the glass to increase the contact angle between the glass and water, so that the glass surface is not easy to be stained with water droplets, which can improve the visibility of driving in rainy days

"in the first half of this year, the proportion of high value-added products of the company has reached 30.5%, an increase of 2.46 percentage points over the same period last year." Chen Xiangming, financial director of Fuyao Glass, introduced

the sky opens a new growth space

automotive glass has become the world's first. What will Fuyao Glass do in the future

"we didn't do the second main business." Caodewang stressed that the acquisition of Sam by the company is an extension of the original glass industry, in order to improve and enhance the service capacity. "(and glass) is a sales system, and we will do it." Sam is an old German auto parts enterprise, whose main business is the production and sales of aluminum decorative strips. In April last year, Cao Dewang said in an interview that the most important work of that year was to integrate the relevant assets of Sam company. The financial report shows that the SAM project lost 37.71 million euros in 2019 and 26.17 million euros in the first half of this year

"we don't predict profits or make performance commitments. Fuyao Glass is the only one in 11 countries and 16 provinces in China that doesn't make money for the time being." Caodewang said that the loss has the reasons of integration and the impact of the epidemic, "I have announced the real situation. How to judge it is your business, of course, I am very optimistic about it personally, and we buy it cheaply."

true and complete information disclosure is the practice of the concept of honesty and trustworthiness. There is almost no taboo about the financial report of Fuyao Glass. For example, in this year's semi annual report, the company disclosed that the number of on-the-job employees by the end of this report was 24460, a decrease of 2267 over the end of 2019, mainly due to the optimization and sorting of post staffing. "Some media said that the layoffs of Fuyao Glass were not so serious. First, the integration of the European fysam project and the impact of the epidemic, some employees chose to leave; second, the application of automation equipment replaced some labor." The relevant person in charge of Fuyao Glass introduced

although caodewang and Fuyao Glass are unwilling to make profit forecasts, the market is obviously unwilling to let it go and has been looking for growth points for the company. For example, the latest research report of Great Wall Securities believes that the penetration rate of high price products such as HUD glass and panoramic sky curtain will increase rapidly with the development of intelligent vehicles and electric vehicles, which will increase the supporting value of single vehicle of automotive glass products by two to three times. In addition, the supporting value of the new aluminum trim products developed by Fuyao is 100 euros to 200 euros, which is about twice the supporting value of the glass car (600 yuan to 800 yuan)

according to the introduction, Fuyao Glass began to supply sunroof bare glass in 2004, and modular products of sunroof glass injection molding edging assembly can be supplied in 2007. In 2013, Fuyao Glass began to tackle the fixed panoramic sunroof assembly. The main feature of fixed lithium iron phosphate and NCA skylights is to use large-area glass instead of roof sheet metal. At present, Fuyao Glass can be produced up to 2 meters × The 1.4m super large semi tempered laminated skylight glass not only has excellent lighting effect, but also can integrate a number of high-tech new technologies, such as intelligent dimming, coating insulation, solar energy and atmosphere skylight

some products have been applied in BMW, Land Rover, general motors, Volkswagen and other vehicles. For example, Weilai ec6, which appeared at the recent Chengdu auto show, is equipped with a coated heat insulation +low-e skylight produced by Fuyao Glass. This 2.1 square meter oversized skylight not only has a wide view, but also can isolate 99% of ultraviolet light and 83% of heat

in the process of researching and exploring new materials, new processes, new technologies and new structures under the internal economic cycle, China Chengdu Construction Expo will talk with you about new opportunities for the industry in April 2021

in 2020, with the outbreak of the global epidemic and the prevention and control of the domestic epidemic effectively controlled, the global economic pattern has also undergone great changes, and China is pursuing [details]