Reuters reported that China's Fuyao Group Glass Industries Co. Ltd. , in which Goldman Sachs is buying a stake, said on Tuesday it expected a jump of more than 50 percent in its earnings this year, sending its share price up nearly 8 percent.
Fuyao, China's top automotive glass maker, said in a statement the earnings increase would be fuelled by contributions from new projects and rising exports.
The company booked 391.72 million yuan ($50 million) in net profit in 2005. Shares of the company rose 7.72 percent to 12.98 yuan in late morning trade on Tuesday.