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    600660   CNE000000230

FUYAO GLASS INDUSTRY GROUP CO., LTD.

(600660)
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Fuyao Glass Industry : APPROVAL BY THE CSRC OF THE APPLICATION FOR THE PROPOSED ISSUANCE OF ADDITIONAL H SHARES UNDER SPECIFIC MANDATE

04/29/2021 | 06:47am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 3606)

APPROVAL BY THE CSRC OF THE APPLICATION

FOR THE PROPOSED ISSUANCE OF

ADDITIONAL H SHARES UNDER SPECIFIC MANDATE

Reference is made to the announcement dated March 10, 2021 of Fuyao Glass Industry Group Co., Ltd. (the "Company") in relation to the acceptance by the China Securities Regulatory Commission (the "CSRC") of the application for the Company's proposed issuance of not more than 101,126,240 additional H Shares under the specific mandate (the "Issuance").

The board of directors of the Company (the "Board") hereby announces that, on April 29, 2021, the Company received the Reply on the Approval of the Issuance of Overseas

Listed Foreign Investment Shares by Fuyao Glass Industry Group Co., Ltd. (Zheng Jian Xu Ke [2021] No. 1495)( 關 於 核 准 福 耀 玻 璃 工 業 集 團 股 份 有 限 公 司 增 發 境外上市外資股的批覆》(證監許可[2021]1495)) (the "CSRC Approval") issued

by the CSRC. According to the CSRC Approval, the CSRC approved the Company's application for the Issuance, with details set out as follows:

  1. it is approved that the Company to issue not more than 101,126,240 additional H shares with a par value of RMB1 each, all of which are ordinary shares.
  2. the Company shall report to the CSRC in writing with the details of the Issuance within 15 working days upon completion of the Issuance.
  3. the CSRC Approval shall be valid for a period of 12 months from the date of approval.
  4. the Company shall strictly comply with relevant domestic and overseas laws, regulations and rules during the process of Issuance.

The Company has not entered into any definitive agreement in relation to the Issuance, and the listing of the H Shares of the Issuance is still subject to the approval of The Stock Exchange of Hong Kong Limited, as well as various factors including market conditions, and therefore the Issuance may or may not proceed. The Company will make announcements on the progress of the Issuance in accordance with the relevant requirements of the listing rules of the place where the securities are listed in a timely manner. Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

Fuyao Glass Industry Group Co., Ltd.

Cho Tak Wong

Chairman

Fuzhou, Fujian, the PRC

April 30, 2021

As of the date of this announcement, the Board of Directors of the Company comprises Mr. Cho Tak Wong, Mr. Tso Fai, Mr. Ye Shu and Mr. Chen Xiangming, as executive Directors; Mr. Wu Shinong and Ms. Zhu Dezhen, as non-executive Directors; Ms. Cheung Kit Man Alison, Mr. Liu Jing and Mr. Qu Wenzhou, as independent non-executive Directors.

- 2 -

Disclaimer

Fuyao Glass Industry Group Co. Ltd. published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 10:46:01 UTC.


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Sales 2021 24 309 M 3 760 M 3 760 M
Net income 2021 4 090 M 632 M 632 M
Net cash 2021 2 283 M 353 M 353 M
P/E ratio 2021 28,7x
Yield 2021 2,08%
Capitalization 90 174 M 13 946 M 13 946 M
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EV / Sales 2022 3,11x
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Technical analysis trends FUYAO GLASS INDUSTRY GROUP CO., LTD.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 45,02 CNY
Average target price 58,20 CNY
Spread / Average Target 29,3%
EPS Revisions
Managers and Directors
Shu Ye Executive Director & General Manager
Xiang Ming Chen Chief Financial Officer & Director
Zhao Hua Bai Chairman-Supervisory Board
De Wang Cao Chairman
Jie Wen Zhang Independent Director
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