Jiangnan Mould & Plastic Technology Co., Ltd. Business Report FY ended Dec. 2023

Financial Overview

(CNY millions)

	FY ended Dec. 31 2023	FY ended Dec. 31 2022	Change (%)
Sales	8,721	7,663.57	13.80%
Operating income	475.26	539.93	-11.98%
Ordinary income	459.63	538.01	-14.57%
Net income	453.48	501.71	-9.61%

Orders

-Minghua de Mexico, a wholly-owned sub-subsidiary of Jiangnan Mould & Plastic Technology Co., Ltd. (JMPT), has recently been designated by a new foreign customer for an exterior trim project. According to the customer’s plan, the project is expected to start mass production in October 2025, with a lifecycle of 4 years and an estimated lifecycle annual sales volume of around 160,000 units. (From a JMPT press release dated July 12, 2024)

Company and subsidiary business News

Company	Details
Beijing Beiqi Mould & Plastic Technology Co., Ltd.	Obtained orders from Xiaomi, Li Auto, Seres and other customers, completely improving the status of relying mainly on a single customer in the past. Currently, the company has many customers, including Mercedes-Benz, Hyundai, BAIC, BYD, Changan, Volvo, Xiaomi, Seres, NIO, and Li Auto.
MingHua de Mexico, S. A. DE C.V.	The company has obtained designated projects of BMW in North America and Europe, and projects of leading New Energy Vehicle companies outside China. The company obtained business for door sills, fender flares, spoilers, and more from Lucid Motors in North America.
Shenyang Minghua Mould & Plastic Technology Co., Ltd.	Through rigorous development of the project in the early stage and continuous and stable management in the middle and late stages, the controllability of the production process has been effectively improved, and production efficiency and product quality have reached new heights, thereby ensuring product stability and reliability.
Liaoning Minghua Mould & Plastic Technology Co., Ltd.	In early January 2023, factory equipment installation was completed, the equipment commissioning was completed in April and had small batch production capacity. The two new BMW projects began validation in May, with SOP in September and December respectively.
Shenyang Daoda Decorative Parts Co., Ltd.	Obtained orders from Volvo for hub cover project, Li Auto for bumpers, BMW for illuminated B/C pillars and battery box covers, Scania truck, and Rehau for overseas Mercedes-Benz and other projects.