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 #99—with 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 for 2006-2010.

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 list.

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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