Citic Dicastal Co., Ltd.
Company Profile
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Business Overview
-The Company is a supplier of aluminum wheels and aluminum chassis components. It mainly produces wheels for passenger cars, mini- and light commercial vehicles, and lightweight aluminum die castings for automotive powertrain, chassis, and body systems.
-The Company's annual production capacity of aluminum wheels is 69 million units, and annual capacity of aluminum castings is 100,000 tons.
-In December 2019, CITIC Limited sold 57.89% of the company's shares for CNY 5.5 billion, and completed the reorganization of the company in January 2020.
Shareholders
Unlisted (As of Dec. 31, 2022)
Shareholder | Shareholding Ratio |
CITIC Investment Holdings Limited | 40% |
Aluminum Alliances Limited | 25% |
Others | 35% |
Total | 100% |
Products
Aluminum Alloy Wheel Hub
Wheels
Aluminum Castings
Cylinder covers
Steering knuckles
Planetary gear carrier
Sub-frames
Valve housings
Pump housings
Steering housings
Transmission housings
Brackets
Battery box frames
History
CITIC Investment Holdings Limited sold 57.89% of the company's shares for CNY 5.5 billion, and completed the reorganization of the company in January 2020.
Apr. 1988 | The Company was established by China International Trust & Investment Corporation, a Chinese statutory investment and financing company, through an introduction from Hong Kong capital. (China International Trust & Investment Corporation is now called the CITIC Group.) |
Apr. 1990 | The Company started commercial production of aluminum wheels. |
1996 | The Company and Good Concept Holdings Limited jointly established SMX Dicastal Wheel Manufacturing Co., Ltd. |
Aug. 2000 | The Company started supplying its products to Audi. |
Feb. 2001 | The Company started supplying its products to Guangzhou Honda. |
2002 | The Company formed technical alliances with Asahi Tec Corporation of Japan; and Speedline of Italy. |
2002 | The Company, Jiangsu Jinxiu Aluminum Co., Ltd., and Asian Investment & Development of the U.K. jointly established Wuxi Dicastal Wheel Manufacturing Co., Ltd. |
Nov. 2002 | The Company and Lizhong Wheel Group Ltd. of Singapore jointly established Qinhuangdao Dicamry Wheel Co., Ltd. |
Jan. 2003 | The Company and the Xinglong Group jointly established Qinhuangdao Dicastal Xinglong Wheel Manufacturing Co., Ltd. |
Oct. 2003 | The Company, Asahitec, and Wheel Horse Aluminium Alloy Casting Co., Ltd. of Hong Kong jointly established Guangzhou Dicastal Asahi Aluminum Co.,Ltd. |
2003 | The Company started supplying its products to GM and Ford. |
Sep. 2004 | The Company and the Xinglong Group jointly established Qinhuangdao Dicastal Xinglong Forged Wheel Manufacturing Co., Ltd. |
Dec. 2005 | The Company was designated as a global strategic supplier of Ford. |
Jul. 2006 | The Company was designated as a global strategic supplier of GM. |
Oct. 2007 | The Company and the Sanhua Group and the Jinbei Auto jointly established Shenyang Sanhua Dicamry Wheel Co., Ltd. |
Oct. 2007 | The Company and Lizhong Wheel Group jointly developed Tianjin Dicastal Wheel Manufacturing Co., Ltd. |
Dec. 2007 | The Company acquired a 20 percent equity share in Binzhou Movever BBS Hub Co., Ltd. from BBS of Germany. The Binzhou company thereby adopted a new corporate name, Binzhou Movever Dicastal Hub Co., Ltd. |
Sep. 2010 | The Company established Chongqing Dicastal Jieli wheel manufacturing Co., Ltd. |
Dec. 2011 | The Company acquired KSM Castings of Germany. |
Jul. 2012 | The company changed its name into CITIC Dicastal Co.,Ltd. |
Nov. 2013 | KSM Qinghuangdao Auto Parts Manufacturing Co., Ltd. was established. |
Dec. 2013 | Citic Dicastal Ningbo Wheel Manufacturing Co., Ltd. inaugurated its aluminum alloy wheel production line. |
Aug. 2014 | KSM Qinghuangdao Auto Parts Manufacturing Co., Ltd., a subsidiary of the Company, launched operation of a machining line. The first lot of prototypes of engine cylinder heads rolled off the production line on the same day. |
Sep. 2014 | The Company announced that it will invest USD 140 million to establish a 3-million units aluminum wheel plant in Greenville, Michigan, U.S.A., which will become the company’s first production base outside China. |
Jan. 2015 | The Company announced that it held a signing ceremony for its new strategic alliance with Siemens. |
Feb. 2016 | The Company completed the construction of machining lines and painting lines at its new plant in Michigan, U.S. and began production. |
Apr. 2016 | MX Dicastal Wheel Manufacturing Co., Ltd., a subsidiary of The Company, broke ground for its new plant that will produce 4 million lightweight aluminum alloy wheels per year. |
Oct. 2016 | Wuxi Dicastal Wheel Manufacturing Co., Ltd., a subsidiary of The Company, began producing lightweight wheels at its new plant. |
Nov. 2016 | The Company broke ground for CITIC South Intelligent Manufacturing Industrial Park in the Wangcheng National Economic and Technical Development Zone in Changsha, Hunan Province. |
Jan. 2017 | Dicastal KSM Chengdu Auto Parts Co., Ltd., which is a wholly owned subsidiary of The Company, commenced production at its new factory in the Tianfu New Area in Chengdu, Sichuan Province after completing the first phase of its construction project. |
Jun. 2018 | The company’s 6thaluminum wheel plant started operations. |
Jul. 2018 | The Company signed an investment with Minister of Industry and Investment Morocco to invest EUR 350 million for the production of aluminum rims. |
Mar. 2019 |
The Company established "Dicastal UACJ Bolv Automotive Parts Co., Ltd." with UACJ Corporation and CITIC BOHAI Aluminum Industries Holding Company Limited. |
Jun. 2019 |
The first phase of the company's manufacturing site in Morocco was put into production. |
Dec. 2019 | CITIC Industrial, Ningbo Industrial and investors have agreed on a deal, in which CITIC Industrial and Ningbo Industrial will sell 57.89% of shares in CITIC Dicastal Co., Ltd. (CITIC Dicastal) to investors at a price of CNY 5.5 billion. |
Apr. 2021 | The “Daixiang Custom Wheels Project” at the CITIC South Intelligent Manufacturing Industrial Park started operations. |
Supplemental Information 1
>>>FY2010-2011 Business report
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>>>FY2020 Business report
>>>FY2021 Business report
Archives of Past Exhibits
Note: A figure in brackets ( ) indicates a loss