Cao Dewang Strongly Supports His Son Cao Hui: He's Better Than Me, Deeper Research into New Technologies
At the 2025 annual shareholders' meeting of Fuyao Glass, Cao Dewang gave his son Cao Hui a high evaluation, stating he is "better than me." Cao Dewang once described his tenure as chairman as "I'm a chairman who doesn't go to work, just takes a stroll when I'm happy." Now, he frankly states, "Cao Hui is doing a better job as chairman than I did." Cao Dewang believes Cao Hui's research into new technologies and new businesses is more in-depth than his own.
After taking over as chairman, Cao Hui is leading Fuyao to meet the important milestone of its 50th anniversary in 2026. In the 2025 annual report released by Fuyao Glass, Cao Hui clearly stated in his "Chairman's Address" that, standing at a historical crossroads, he will lead Fuyao to launch a "second venture."
Cao Hui joined Fuyao Glass after graduating from high school in 1989, and grew step by step from a grassroots position. In January 2024, he became the Vice Chairman of the 11th Board of Directors of Fuyao Glass; in October 2025, he officially took over the position of Chairman.
As Fuyao Glass and Fuyao Science and Technology University and other core tasks are gradually entrusted, Cao Dewang said he will officially retire and enjoy his old age.
According to an announcement by Fuyao Glass, the company achieved operating revenue of 10.413 billion yuan in the first quarter of 2026, a year-on-year increase of 5.08%; net profit attributable to shareholders of the listed company was 1.712 billion yuan, a year-on-year decrease of 15.68%. The change in performance was mainly affected by exchange gains and losses: the exchange loss for this reporting period was 439 million yuan, while the exchange gain for the same period last year was 236 million yuan.