Fuyao Glass's Net Profit Surges 302.58% In Q1

Date: 19 April 2010
Source: Fuyao Glass
Apr. 16, 2010 (China Knowledge) - Fuyao Glass Industry Group Co Ltd, a manufacturer of automotive, decorative and industrial glass under the brand name of FY, Wednesday said that its net profit was RMB 417 million in the first quarter of this year, up 302.58% year on year, sources reported.

According to its quarterly financial results, in the first three months of this year, the company realized RMB 1.75 billion in operating revenue, 65% more than in the same period of last year.Earnings per share jumped 320% year on year to RMB 0.21.
In a statement filed with the Shanghai Stock Exchange, the firm said the operating revenue surge is mainly due to China's rapidly growing automotive market and expanding overseas market.
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