It is undoubtedly a great event that “Xinyi Glass is Purcgasing South Glass”. Over years, automotive glass industry has showed "dumbbell-shaped” situation, there are few companies that are in large scale or have high-class products, except Yaohua Group and Xinyi Group. Also small-scale enterprises are not too much. However those who have large-scale but not so high-level products account for a significant amount. These companies are in crag-fast position. The action of purchasing South Glass by Xinyi Glass indicates the beginning of a new round restructuring.
Recently, Xinyi Glass Group announced that they would purchase all the stocks of South Glass (Shenzhen) Auto Glass Company in cash of 234.64 million yuan. This is the first acquisition action of Xinyi Glass Group, also is one of the large-scale acquisition event in recent years. After the acquisition is completed, South Glass (Shenzhen) Auto Glass Company will become a wholly owned subsidiary under Xinyi Glass Group.