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Changchun FAWAY Group Automobile Components Co., Ltd. (Formerly Changchun FAWAY Automobile Components Co., Ltd.) Business Report FY ended Dec. 2024
Financial Overview |
(CNY millions) |
| FY ended Dec. 31, 2024 | FY ended Dec. 31, 2023 | Rate of change (%) | |
| Sales | 19,636.31 | 20,765.51 | -5.44% |
| Operating income | 1,038.66 | 907.91 | 14.40% |
| Ordinary income | 1,034.61 | 908.98 | 13.82% |
| Net income | 749.45 | 765.01 | -2.03% |
Orders
FAW Group
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In 2024, Faway secured 111 projects from FAW Group.
Faway Dongyang, Faway Adient, Faway Hella, and Faway Stamping obtained interior, exterior, lighting, and low-carbon business from FAW-Volkswagen.
Faway Dongyang, Faway Stamping, and Faway Benteler secured interior, exterior, and low-carbon projects from FAW Toyota.
Faway Adient, Faway Dongyang, Faway Wheel, Faway Stamping, and Faway Hella secured interior, exterior, lighting, and low-carbon projects from Hongqi.
External markets outside FAW Group
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In 2024, Faway obtained a total of 45 external market projects.
Faway Adient won business from Scania, Chery Trucks, Sinotruk, and XPENG.
Faway Dongyang secured projects from North American new-energy vehicle customers, NIO, Volkswagen Anhui, and Chery (OEM).
Faway Mirrors obtained business from Voyah.
Faway Chengdu Yanfeng secured Volvo business.
Faway Wheel secured projects from Yokohama Rubber (Shanghai, warehousing) and Foton Motor.
Faway Benteler and Faway Stamping secured projects from Mercedes-Benz, Chery, Changan Automobile, Great Wall Motor, and Audi FAW New Energy.
R&D Expenditure
| FY ended Dec. 31, 2024 (CNY millions) |
FY ended Dec. 31, 2023 (CNY millions) |
FY ended Dec. 31, 2022 (CNY millions) |
|
| R&D Expenditure | 603.46 | 497.78 | 368.03 |
| Ratio of R&D expenses to sales | 3.07 | 2.4 | 1.84 |
-As of the end of 2024, the Company had 672 R&D staff, accounting for 4.6% of the total staff.
R&D facilities
| Name | Company |
| Wheel R&D Center | Changchun Faway Automobile Components Co., Ltd. Wheel Company |
| Faway Adient Technical Center | Changchun Faway-Adient Automotive System Co., Ltd. |
| Shanghai Huashi Automotive R&D Branch | Changchun FAWAY Tong Yang Automobile Plastic Components Co., Ltd. |
| Changchun Automotive Leading Innovation Company | Jointly established by 13 companies including China FAW, FAWAY and Fawer |
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