In the first half of 2010, Xinyi Automotive Glass revenue increased by 24.8%

With the rapid development of China's auto industry, the market demand for China's auto glass industry is growing at a rate of 20% per year. In the first half of 2010, Xinyi Glass achieved a total operating income of 2.65 billion Hong Kong dollars, of which automotive glass achieved operating revenue of 1.084 billion Hong Kong dollars, an increase of 24.8% compared with the same period of last year. Xinyi Glass holds more than 18% of the global automotive glass replacement market.

Market demand continues to grow, production scale gradually expands

Xinyi Automobile Glass is mainly used in the automotive matching and maintenance market, and its supply has been close to the production, sales and maintenance of the entire process. The increase in Xinyi's auto glass operating income in 2010 will be based on the expansion of the international and domestic market share and the further increase in production concentration.

In 2010, according to the original plan, Xinyi Glass will further increase its production capacity to meet the matching growth of the auto market. A new replacement automotive glass production line of Xinyi Automotive Glass (Shenzhen) Co., Ltd. under Xinyi Glass will be put into operation in the fourth quarter of this year, with an annual production capacity of 800,000 wafers. However, as the automotive glass market continued to show strong growth in the third quarter of this year, the export prices and sales volume of automotive glass continued to increase. Driven by market demand, Xinyi Glass's orders have been in excess of 3 months. In this case, Xinyi Glass will add an additional auto glass production line with an annual production capacity of 1.2 million pieces, which is expected to start production in the first quarter of 2011.

Actively Seeking Cooperation with Broad Market Prospects

In 2010, the national revitalization automobile plan was continued. Xinyi Glass also benefited from the increase in car sales. The quality and technical performance of its automotive glass products continued to improve, and its supporting grades steadily increased. It has become a complete supplier of mid- to high-end vehicle models.

Following Xinyi Glass becoming a BYD auto glass supplier, from July to August, Germany Volkswagen China Purchasing Department, Quality Department and Anhui Jianghuai Automobile Group, plant construction, management system, and production site of Xinyi Auto Parts (Wuhu) Co., Ltd. The environment, process planning, quality control management, and production capacity were examined and highly evaluated. German Volkswagen expressed its willingness to provide high-end accessory products for some of its models. JAC Group negotiated the development of Xinyi Glass's new products, which laid the foundation for Jianghuai Automobile Group to become the second largest strategic partner of Xinyi Glass.

In addition, at the beginning of September, Zhengzhou Yutong, Shenzhen BYD, Dongfeng Junan and other companies and the Beijing Automotive Research Institute came to Xinyi Glass to visit and negotiate business respectively.

At present, Xinyi Glass's products and solutions have been applied to more than 100 countries and regions in the world. There are more than 30,000 types of automotive glass models, covering almost all models. Inspired by the quality of success, market-oriented strategy, Xinyi Glass Products Co., Ltd. It is favored by the market and has been integrated into the global supplier system by Ford, GM, Chrysler, Volkswagen, Fiat and other vehicle manufacturers, and has established long-term strategic partnerships with national brands such as Chery, Yutong and Futian.