Fuyao Glass, one of the world’s largest makers of glass used in automobiles, gained 3% on Friday at the Shanghai Stock Exchange after the company said net profit in the first three months of the year climbed by 11% to 391.9 million yuan, or $63 million.
The company didn’t provide a sales figure.
Fuyao’s customers include Ford, GM and BMW.
Auto sales in China, the world’s largest market for motor vehicles, rose by 17% in the first three months of 2013 from a year earlier. One of the world’s largest auto shares, Auto Shanghai, opened on Sunday in Shanghai.
Cho ranked No. 1,250 on the 2013 Forbes Billionaires list with wealth of $1.15 billion. He is a mainland native who formally resides in Hong Kong.
Source:
http://www.glassinchina.com/news/newsDisplay_20903.html
