Auto sales lift Fuyao’s net profit
Print Edition
FUYAO Glass Industry Group Co, one of Asia’s largest automobile glass producers, saw net profit surge 17.37 percent in 2015 amid robust auto sales in China.
Its net earnings hit 2.6 billion yuan (US$402 million). the firm said in a statement filed with the Shanghai Stock Exchange yesterday.
Its revenue rose 4.99 percent from a year earlier to 13.57 billion yuan.
Earnings per share were 1.1 yuan, down 0.9 percent from a year ago, it said.
China’s vehicle output has risen from 18.26 million units in 2010 to 24.5 million units in 2015.
Over 30 million vehicles are set to be sold in China in 2020, nearly double the number forecast in the US, estimates from IHS showed.
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