Fuyao’s Net Profit Up 55.01%

Fuyao Group Glass Industries Co. Ltd. , a major auto glass producer in mainland China, has announced a net profit increase of 55.01% to RMB 607.22 million.

In its annual report filed to the Shanghai Stock Exchange, the firm said revenue in 2006 was RMB 3.88 billion, up 33.42%, with about 75% derived from the sales of windshields and the rest from the sales of float glass.

Earnings per share surged to RMB 0.61 from RMB 0.39.

The company said income from the international original equipment manufacturer business surged 103.18% in 2006, adding that these operations will be expanded in 2007.

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