On October 25, Guolunhui | China Merchants Securities research reports pointed out that Fuyao Glass (600660.SH) is a global leader in the automotive glass industry, with strong competitiveness, a global market share of 34%, ranking first globally, and a market share in China of around 68%. The company values shareholder returns, with a total dividend of 28.634 billion yuan since its listing, leading the industry in asset return rate. In 2023, the company's ROE is 18.63%, and in recent years, the company's net return on assets has steadily improved, significantly outperforming the industry. The company has ample free cash flow, consistently outperforming the industry by a large margin. In the early fourth quarter, domestic liquefied natural gas prices also experienced a significant decline, and it is expected that the company's cost side will also be greatly optimized in the fourth quarter. The proportion of high value-added products of the company continues to increase, profitability continues to improve, with strong growth certainty, high performance visibility, steadily increasing global market share, prominent industry leadership position, maintaining stability and advancing, highly recommended.