SHANGHAI Oct 24 Fuyao Glass Industry Group Co
(600660.SS), China's largest automotive glass maker, may not be
able to meet its previous target of 40 to 50 percent net profit
growth this year as car sales slow, its chairman said on Friday.
Fuyao has also stopped investing in new capacity since the
first half of the year, Cho Tak Wong told Reuters on the
sidelines of an entrepreneur forum.
"Previously, we had expected to have a net profit of more
than 1 billion yuan ($146.3 million) this year. But now that
seems unlikely," Cho said.
Fuyao, which previously had sought to buy auto glass assets
from Ford Motor (F.N) in the United States, is no longer
interested in investing in U.S. auto glass assets, he said.
(Reporting by Fang Yan; Writing by Edmund Klamann; Editing by