What do you think of Cao? Where is the misfortune? . First of all, according to German law, Fuyao's losses during the integration period must be fully reflected in the statements of that year, but from another perspective, although it suffered a little in 20 19, the company's future profits can be deducted from income tax; Secondly, the exclusive distribution agreement in the United States was terminated by paying more than $30 million to American distributors. On the contrary, Fuyao's American subsidiary obtained a pass to sell float glass directly in the American market.

20 17, the stock market rose moderately and the economy was booming. However, Cao suggested that the feast is coming to an end, and preparations should be made for antifreeze in the next two years. Winter is coming. In the annual reports of Fuyao Glass for 20 17, 20 18 and 20 19, the net cash flow of financing activities was negative, and Fuyao Glass continued to reduce its liabilities. By the end of 20 19, Fuyao Glass held nearly 10 billion yuan in cash.

Fuyao's report suddenly ushered in an inflection point? In the semi-annual report of 2020, Fuyao Glass suddenly reduced its debt service, and its asset-liability ratio rose from 45% at the beginning of the year to 52.64%. Cash on hand is nearly 654.38+0.4 billion yuan. Show optimistic signs about the trend of the industry and the company. According to industry insiders, the passenger car industry will decline from 20 18 to 2020, with the lowest point in the first half of 2020. Now the dark time has passed. Fuyao glass may be one step ahead.

The key of internal circulation is manufacturing.

Times make Cao's wealth grow at a speed visible to the naked eye, and more importantly, times also make Cao's cognitive ability grow at a speed visible to the naked eye? Today, Cao De's understanding of international relations, monetary system and macro-forecast is not what it used to be? Super buyer? Comparable.

Cao's forward-looking judgment on the global economic crisis in 2007 20 17 makes him better than economists? Prophet perception? The reputation of.

? Under the epidemic, everyone is very United, so 2020 (economy) may be passable, and what we have to worry about is the later things. Fuyao is more relaxed this time, because we noticed several years ago that the crisis may be approaching. ? Cao said to him:

The crisis originated from the unrequited investment in the economy. Cao first thought of real estate, in order to meet people's growing wonder? Just need a house? We should concentrate all our financial resources to meet the real estate development. Ten thousand years is not enough. Should we seize today? He seldom speaks sarcastically.

? Real estate (development) should be based on the strength and ability of our domestic people. ? He concluded.

Unlike those years when floats were built and overseas, Fuyao's investment in recent years has been very cautious. Because we are very concerned about the input-output ratio. If the input and output are not in direct proportion, we will not invest. So now I won't be very worried, because Fuyao has sufficient cash flow. ?

Under the multiple crises of epidemic situation and international relations, the central government proposed to develop domestic circular economy. In Cao's view, attention should have been paid to internal circulation long ago, and the success of internal circulation depends on manufacturing.