Fuyao Glass will continue to benefit from the cont

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Fuyao Glass will continue to benefit from the continuation of automobile tax incentives.

the mainland automobile market last year was supported by the government to launch policies related to the development of small displacement vehicles and preferential policies for new energy vehicles, driving the industry's annual sales. According to the statistics of China Automobile Association, the sales of passenger cars in the mainland reached 2802 in 2016. 80000, with an annual increase of 13. 7%。 At the same time, it drives the demand for auto peripheral accessories. It is believed that the continuation of the tax incentives for emission reduction vehicles in the mainland this year will continue to stimulate the future demand of mainland citizens for cars and increase the production of automobile manufacturers. It is believed that Fuyao Glass (03606), as the first brother of the mainland auto glass industry, will continue to benefit directly from it

the group is the leader of automotive glass in the mainland, and its main business is the production and sales of automotive glass. The company is the largest manufacturer of automotive glass in the mainland and the second largest in the world

the group announced its 2016 full year results earlier. As of the end of December last year, the revenue and profit of the whole year increased by more than 20% year-on-year, reaching 166 respectively. 200 million yuan (RMB, the same below) and 31. 400million yuan, earnings per share 1. 25 yuan. Excellent performance

focus on R & D and optimize product structure

benefited from the prosperity of the mainland automotive market during the period, its main automotive glass business has increased significantly. The increase in revenue was mainly due to the increase in sales of location equipment manufacturers (OEMs) in the mainland and exporting original equipment to confirm the movable beam

the cost rate during the period is 77. 10%, a year-on-year decrease of 0. 49 percentage points, mainly due to the decline in energy prices during the benefit period and the group's vigorous implementation of energy conservation and consumption reduction measures to actively improve management efficiency

in recent years, the group has focused on R & D and continuously optimized the product structure to improve the profitability of the company, including the development of HUD head up display glass, sound insulation glass, wired heating glass, infrared emitting glass, hydrophobic glass, ultra ultraviolet insulating glass, etc. with more diversified products. I believe that we can cope with more different types of customers and further improve the market share

Rio Tinto's overseas market

in addition, expanding the overseas market is an important development direction of the company. The group's factory in Ohio, the United States, was completed and put into operation earlier, and has provided products for many auto brands. This year, it will continue to carry out global layout, focusing on investment projects in Europe and Russia. At present, the new factory in Germany has also been launched

the bureau with global cloth odor score ≤ 3 and formaldehyde content ≤ 10mg/kg has taken shape. With the gradual release of production capacity in overseas markets, it is expected to open up new growth space in the future

Fuyao Glass shares closed at 24 on Monday. 85 yuan (Hong Kong dollars, the same below), a new closing high since the aging modification of flame retardant PP. The share price has broken through since the end of October last year, reaching 21. 7 yuan to 24 yuan. 7 yuan is in the high horizontal range

it is believed that a sustained breakthrough is expected in the short term. It is suggested that investors can absorb at the current price, with a median target of 32 yuan. If the share price falls below 22. 8 yuan will stop the erosion first

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