Wanxiang Qianchao Co., Ltd.

Business Highlights

Financial Overview

(in million yuan) FY2009 FY2008 Rate of increase (decrease)(%) Factors
Sales 5,569.89 4,848.29 14.88% - Sales increased year-on-year as a result of greater sales to global car OEMs and greater demand in the Chinese market. The Company achieved this by shifting its focus to high value-added products and improving product quality.
Operating profit 312.61 290.35 7.67% Decreases in profit were mainly due to the following factors:
- Greater increases in material costs
Ordinary profit 353.67 372.62 (5.08%)
Net profit 300.86 327.16 (8.04%)


-On March 30, the Group acquired the steering shaft business of U.S.-based DS, a former steering shaft manufacturer in the Timken Group. DS. The new company will manufacture 1 million to 1.5 million steering shafts per year for automakers including DS's existing customers. (From a press release, April 17, 2009)


R&D Facility

Name Wanxiang Technical Center
Year established 1994
Overview -The center conducts R&D activities for all the companies under the Wanxiang Group.
-In Nov. 2003, its automotive product laboratory was authorized by the China Quality Certificate Center (CQC) as a contracted CQC testing facility. This enabled the Company to carry out testing of its products based on CCC (China Compulsory Certification) by itself. Qualified products for self-testing include six kinds of automotive components: brakes, drive shafts, CVJ shafts,; universal joints, shock absorbers, and wheel bearings.


Product Development

-Jiangsu Sunway Precision Forging Co., Ltd. successfully developed a prototype of its new flange shafts it has been developing for use in DSG double clutch gear boxes designed for Volkswagen vehicles. The company initially plans to produce 300,000 sets annually mainly for the Volkswagen Group in China, with the intention of increasing the number to 600,000 sets later to support the worldwide operations of Volkswagen. (From a press release, May 7, 2009)

Archives of Past Exhibits

2010 China International Auto Parts Expo (CIAPE)

Wanxiang Group

Image   Image  
Brake system Brake system

Image   Image  
Brake system Exhaust system

Image   Image  
Battery Spring air chamber

Image   Image  
Wheel hub Wheel hub

Image   Image  
Wheel hub Wheel hub

Image   Image  
Bearing Bearing

Image   Image  

Investment Activities

Capital Investment Projects

(As of Dec. 2009)

Project Planned amount of investment (in million yuan) Investment made in 2009(in million yuan) Actual Spending by 2008 as a percent of planned amount of  investment
Constructing a new plant at Hafei 38 13.6 90.8%
Constructing facility to manufacture carburized bearings (annual production volume: 600,000 sets)  24.2 19.0 78.6%
Constructing additional facility to manufacture ABSs at Wanxiang Jinggong 21.5 12.3 93.3
Constructing the second plant at Huainan 25 0.2 130.9%
Constructing additional facility to manufacture constant velocity drive shaft assemblies  1,943.7 74.3 22.1%
Constructing additional facility to manufacture wheel hub units used in passenger vehicles 1,807.8 10.5 3.8%
Establishing additional facility to manufacture high-performance drive shafts (annual production volume: 600,000 sets) 166.0 2.0 56.3%
Constructing transmission shafts at Shiyan Factory 10 0.2 2%
Constructing additional facility to manufacture chassis modules at Hefei Wanxiang Qianchao Automotive Parts 25.4 20.9 40.9%
Establishing additional facility to make third-generation wheel hubs with ABS sensors at Wanxiang Jinggong 158.3 - 134.5%
Constructing additional facility to manufacture precision bearings (annual production volume: 64 million sets)  480.3 10.5 11.8%
Constructing new plant in Henan Province 115.4 0.11 111.4%
Constructing new plant at Zhejiang Wanxiang System Co., Ltd., Liuzhou Factory 10.0 - 117.2%
Constructing additional facility to make universal joints (annual production volume: 20 million sets) and differential assemblies 118.0 0.4 17.23%


Investment in China

- Wanxiang Qianchao Co., Ltd. issued new equity shares. The 1,821 million yuan in capital raised was used to establish a new plant with the production capacity to make 8.4 million constant-velocity drive shafts per year. (From an announcement by the company, April 15, 2010)