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Xiangyang Automobile Bearing Co., Ltd. Business Report FY ended Dec. 2022
Financial Overview |
(CNY millions) |
| FY ended Dec. 31, 2022 | FY ended Dec. 31, 2021 | Rate of change (%) | |
| Sales | 1,130.57 | 1,317.69 | (14.20) |
| Operating income | (134.91) | (49.07) | - |
| Ordinary income | (132.82) | (47.40) | - |
| Net income | (127.27) | (48.84) | - |
Patents
-In 2022, the company presided over or participated in the revision of 4 industry standards. It had 15 patents accepted and 7 patents granted.
-The focus of research and development will gradually shift from traditional automotive bearings to modularized products and passenger car products. The XZG and XGX series are in the early stages of development, including design, manufacturing, and testing.
-Participated in major scientific and technology projects at the provincial level, completing the programs related to the research and development of key technologies for low-friction automotive bearings and the research and application of precise and efficient deformation/phase transformation co-manufacturing and dynamic performance testing technology for automotive bearings.
R&D projects
| Project | Progress |
| Research and development and application of key technologies for commercial vehicle wheel hub bearing units | Mass production and supplies OEMs |
| Development of key technologies for high-efficiency automotive bearings | Under development, including product production and testing |
| Research and development and application of high-speed bearings for electric drive systems of New Energy Vehicles | Undergoing verification of technology research and development; market expansion phase |
| Research and application of key technologies of passenger car driveline bearings | New product and market development; to supply global OEMs |
| Constant velocity universal joint NVH analysis and test technology research and development | Applied to new product design and verification analysis |
R&D Expenditure |
| FY ended Dec. 31, 2022 | FY ended Dec. 31, 2021 | FY ended Dec. 31, 2020 | |
| R&D expense (CNY millions) | 38.72 | 41.95 | 39.92 |
| R&D expenses as percent of Sales (%) | 3.42 | 3.18 | 3.35 |
-As of Dec. 31, 2022, the Company has 315 R&D staff, 10.22% of total employees.
Japan
+81-3-4241-3907
USA
Mexico
Germany
China (Shanghai)
Thailand
India