Chinese Auto Glass Manufacturers and Their
Leaders Rank High in Recent Listings
September 28, 2011
Three Chinese auto glass industry executives were named to a recent
list of China's 400 richest compiled by Forbes magazine.
Fuyao Glass Industry Group (FYG) chairman Cho Tak Wong and Yu Awu,
also of Fuyao, along with Xinyi Glass founder Lee Yin Yee, all were
included on the list.
Wong, who reportedly owns 20 percent of FYG, is ranked at #99with
an estimated net worth of approximately $1.2 billion. On last year's
Forbes list of the top 400 richest Chinese, the 69-year-old
Wong ranked at #43, with an estimated net worth of $1.8 billion.
Awu, along with his family, also ranked 99th on the list, with
an estimated net worth of approximately $1.2 billion as well. Forbes
says not all of the 65-year-old Awu's wealth comes from the glass
business, though; he owns 65 percent of Zhejiang Ming Jewelry, which
he shares with his son, Yu Tuliang. Awu and his son together ranked
at #366 on last year's Forbes list, with an estimated net
worth at that time of $450 million.
Yee, 59, ranked #368 on the list, with an estimated net worth of
$520 million. Yee founded his Hong Kong-based company in 1988, according
to information from Xinyi. He ranked at #287 on last year's list,
with a net worth at that time of approximately $560 million.
In addition to these rankings, Xinyi also has been named to Boston
Consulting Group's recent list of the world's top value creators
Xinyi is listed at #10 in the world, with a market value of $2.9
billion as of December 31, 2010. The firm reports a total shareholder
return of 53.7 percent for Xinyi for the four-year period and 36
percent sales growth. In addition, the report lists Xinyi as the
world's top value creator in the area of automotive component suppliers.
It is the only auto glass manufacturer on the automotive component
The list was created as part of a report
on the global market titled "Risky Business: Value Creation
in a Volatile Economy."
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