Fuyao Glass Industry Group Co., Ltd. (3606.HK) Bundle
From a modest start in Fuzhou in 1987 to a global powerhouse supplying Mercedes‑Benz, BMW, Audi, Volkswagen, GM, Toyota and Ford, Fuyao Glass Industry Group Co., Ltd. (3606.HK) has built a footprint of 16 Chinese production bases and facilities in 11 foreign countries - including the United States, Russia, Germany, Japan and South Korea - driven by a mission of "Respecting the Heaven and Loving the People, Striving for the Ultimate Good," a vision to be "the most competitive supplier specialized in automobile glass in the world," and core values of diligence, simplicity, learning and innovation; today the company employs over 26,000 people, operates 9 design centers and 2 R&D centers across China, the U.S., Germany and Japan, has earned top honors such as the China Quality Award and recognition for intelligent manufacturing, and through programs like the Innovation Star Program generated more than 300 viable product ideas in 2022, all of which fuel its commitment to quality, sustainability and partnership with global automakers.
Fuyao Glass Industry Group Co., Ltd. (3606.HK) - Intro
Fuyao Glass Industry Group Co., Ltd. (3606.HK) was founded in 1987 in Fuzhou, China and has grown into one of the world's largest automotive glass manufacturers. The company operates modern production bases across 16 provinces and cities in China and in 11 foreign countries, including the United States, Russia, Germany, Japan, and South Korea. Fuyao's products are specified by leading OEMs such as Mercedes‑Benz, BMW, Audi, Volkswagen, General Motors, Toyota, and Ford. The company employs over 26,000 people worldwide, maintains 9 design centers and 2 R&D centers located in China, the United States, Germany, and Japan, and has been recognized with awards including the China Quality Award and designation as a Demonstration Enterprise for Intelligent Manufacturing.- Founded: 1987 (Fuzhou, China)
- Global employees: >26,000
- Domestic production footprint: production bases in 16 provinces/cities
- International footprint: production bases in 11 foreign countries
- Design & R&D: 9 design centers; 2 R&D centers (China, USA, Germany, Japan)
- Key OEM customers: Mercedes‑Benz, BMW, Audi, Volkswagen, GM, Toyota, Ford
- Notable recognition: China Quality Award; Demonstration Enterprise for Intelligent Manufacturing
| Metric | Value |
|---|---|
| Year founded | 1987 |
| Global employees | Over 26,000 |
| China production bases | 16 provinces/cities |
| Foreign production countries | 11 countries (including USA, Russia, Germany, Japan, South Korea) |
| Design centers | 9 |
| R&D centers | 2 (China, USA/Germany/Japan support) |
| Major OEM clients | Mercedes‑Benz; BMW; Audi; Volkswagen; GM; Toyota; Ford |
| Key recognitions | China Quality Award; Demonstration Enterprise for Intelligent Manufacturing |
- Provide high-quality, safe, and technologically advanced automotive glass solutions to global automakers.
- Continuously improve product quality and manufacturing efficiency through intelligent manufacturing and innovation.
- Be a world-leading automotive glass supplier recognized for technology leadership, manufacturing excellence, and sustainable practices.
- Quality first - uncompromising product and process standards.
- Customer focus - close collaboration with global OEMs to meet evolving needs.
- Innovation - sustained investment in design and R&D to drive differentiation.
- Integrity and responsibility - compliance, safety, and social responsibility in global operations.
- Talent and teamwork - building capabilities across 26,000+ employees and international centers.
Fuyao Glass Industry Group Co., Ltd. (3606.HK) - Overview
Fuyao Glass Industry Group Co., Ltd.'s mission - 'Respecting the Heaven and Loving the People, Striving for the Ultimate Good' - functions as a concise ethical compass that drives operational decisions, technology adoption, and stakeholder engagement across its global automotive-glass business. The phrase captures commitments to innovation, product quality, customer satisfaction, environmental stewardship, and social welfare, and the company has intentionally preserved this mission as a stable guiding principle through its international expansion and technological upgrades.- Core emphases embedded in the mission:
- Innovation and continuous improvement in glass science and manufacturing processes.
- High production and quality standards to meet OEM and aftermarket global demands.
- Environmental responsibility (energy efficiency, emissions and waste reduction).
- Social and employee welfare, alongside ethical corporate governance.
| Metric / Year | 2020 | 2021 | 2022 |
|---|---|---|---|
| Revenue (RMB billion) | 27.49 | 30.37 | 33.52 |
| Net profit attributable to shareholders (RMB billion) | 2.45 | 3.11 | 1.66 |
| Total assets (RMB billion) | 45.2 | 48.7 | 51.3 |
| Global employees (approx.) | ~36,000 | ~38,500 | ~40,000 |
| Manufacturing/assembly sites (global) | 50+ | 55+ | 60+ |
- Product and quality: Continued OEM certification growth across Tier-1 automakers and increased share in advanced glazing segments (acoustic, HUD-capable glass).
- Investment & capacity: Ongoing capex for automation and new lines to support higher-value glazing; strategic capacity expansions in North America, Europe, and Southeast Asia.
- Sustainability: Energy-consumption and emissions-reduction projects at float and tempering furnaces; waste glass recycling programs implemented in multiple plants.
Fuyao Glass Industry Group Co., Ltd. (3606.HK) - Mission Statement
Fuyao Glass Industry Group Co., Ltd. (3606.HK) frames its mission and strategic intent around a clear, long-term vision: becoming the most competitive supplier specialized in automobile glass in the world. This vision anchors Fuyao's decisions across R&D, manufacturing, quality assurance, customer relations, and global expansion.- Vision evolution: from serving Chinese consumers to setting supplier standards to "benefiting the world," reflecting a stepped internationalization and brand ambition.
- Strategic priorities driven by the vision: technological innovation (advanced laminated/tempered glass and ADAS-ready glazing), global manufacturing footprint, OEM partnerships, and continuous quality improvement.
- Market positioning: to act as a loyal partner to global OEMs and a trusted brand for vehicle manufacturers and end users worldwide.
- R&D focus: advanced driver-assistance system (ADAS) compatible glazing, acoustic/thermal laminates, and lightweight glass technologies to reduce vehicle weight and improve fuel/electric range.
- Quality systems: international certifications and supplier approvals from tier-1 OEMs across Asia, Europe, and North America.
- Customer integration: long-term supplier agreements and technical co-development with major automakers to embed Fuyao glazing into vehicle platform architectures.
| Indicator | Value (latest reported / approximate) |
|---|---|
| Annual Revenue (FY 2023, RMB) | ~30.5 billion |
| Net Profit (FY 2023, RMB) | ~3.2 billion |
| Total Employees | ~37,000 |
| Global Production Bases | 21+ (China, USA, Germany, Russia, Japan, others) |
| Global Customers / OEM Relationships | 800-1,200+ (includes global OEMs and tier-1s) |
| Export / Overseas Revenue Share | ~50-65% |
| Annual Glass Output (approx. units) | >60 million pieces |
| R&D Centers | Multiple regional centers focused on automotive glass, ADAS glass, and functional laminates |
- Secured supply agreements with leading global automakers across Europe, North America, and Asia, producing OEM-spec glazing for passenger cars, SUVs, and commercial vehicles.
- Built and expanded overseas plants to localize supply for key auto markets-reducing lead times and strengthening OEM qualification credentials.
- Scaled production and quality systems to meet complex OEM standards (dimensional tolerances, optical clarity, sensor integration for HUD/ADAS).
Fuyao Glass Industry Group Co., Ltd. (3606.HK) - Vision Statement
Fuyao Glass Industry Group Co., Ltd. (3606.HK) grounds its corporate vision in a tightly integrated set of core values - diligence, simplicity, learning, and innovation - that drive strategic choices, operational discipline, and technology leadership across global automotive glass markets.- Diligence: an emphasis on operational rigor, continuous quality improvement, and disciplined execution across manufacturing, supply chain, and customer service.
- Simplicity: streamlined processes and product portfolios that reduce complexity for customers and improve manufacturability and cost control.
- Learning: institutionalized training, knowledge transfer across plants, and metrics-driven performance improvement.
- Innovation: sustained investment in R&D to develop advanced glazing, ADAS-compatible glass, acoustic solutions, and lightweight technologies.
| Metric | Reported/Target (most recent public data) |
|---|---|
| Global employees | ~40,000+ |
| Number of manufacturing bases worldwide | 20+ plants (China, North America, Europe, Asia) |
| Annual revenue (most recent fiscal year) | RMB 44.2 billion |
| Net profit (most recent fiscal year) | RMB 4.3 billion |
| R&D expenditure (most recent fiscal year) | RMB 1.05 billion (approx. 2.4% of revenue) |
| Innovation Star Program outputs (2022) | Over 300 viable product/solution ideas implemented or in pilot |
- R&D and innovation: Fuyao's R&D centers and laboratories focus on laminated, tempered, acoustic, and sensor-integrated glazing - supported by an R&D spend north of RMB 1 billion annually to accelerate materials, process automation, and ADAS-ready glazing.
- Innovation Star Program: an internal crowdsourcing initiative that encourages employee proposals; in 2022 the program produced 300+ viable ideas, several of which advanced to pilot production, improving yield, reducing cycle times, and creating new product variants for OEMs.
- Continuous learning: structured training academies and cross-plant rotations maintain skills consistency across 20+ global facilities and support rapid scale-up for major OEM programs.
- Operational simplicity and diligence: lean manufacturing, Six Sigma projects, and supplier consolidation efforts that have contributed to margin stability amid raw material and logistics volatility.
- Innovation-to-revenue conversion: new products and process improvements from R&D and the Innovation Star Program have contributed measurable order wins from global OEMs, supporting export and overseas plant utilization.
- Product diversity: development of ADAS-compatible glass and acoustic laminates expanded addressable content per vehicle, increasing average selling price (ASP) per unit for targeted models.
- Cost and quality: process innovations and employee-led proposals have reduced scrap and rework rates at several plants, improving gross margins year-on-year.
Fuyao Glass Industry Group Co., Ltd. (3606.HK) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.