Fuyao Glass Founder Cao Dewang Vows Not to Accept Unprofitable Business Amid U.S. Tariff Risks

Gate News message, April 22 — At Fuyao Glass' annual shareholder meeting yesterday (April 21), founder Cao Dewang, now honorary chairman after stepping down from the board in October 2025, addressed concerns over U.S. tariffs and geopolitical risks. "If tariffs make the business unprofitable, I simply won't sell," Cao said. "If faced with unreasonable conditions, we could close the U.S. factory." The nearly 80-year-old entrepreneur emphasized that Fuyao will not engage in loss-making operations.

Fuyao Glass reported record results for 2025, with operating revenue reaching 457.87 billion yuan (up 16.65% year-over-year) and net profit attributable to shareholders at 93.12 billion yuan (up 24.20%). The company's U.S. subsidiary, which generated 79.17 billion yuan in revenue with a net profit of 8.84 billion yuan in 2025, posted 25.10% revenue growth and a 13.27% operating profit margin.

As the world's largest automotive glass supplier with 34% global market share and 68% in China, Fuyao operates the world's largest single automotive glass plant in Dayton, Ohio, which began production in October 2016. The company notably became the first Chinese enterprise to win a trade dispute against the U.S. Department of Commerce, achieving a 0.13% anti-dumping tariff rate in 2004.