Minth Group Ltd.

Company Profile

■URL

http://www.minthgroup.com/?lang=en

■Address

No.1, Yazhong Road, Nanhu District, Jiaxing City, Zhejiang, China

Business Overview

-A leading aluminum battery case manufacturer in China, the company also designs, manufactures, and sells trims, exterior components, body structure components, roof racks, and other automotive components. In addition to battery cases, the company is currently increasing orders for impact modules, side sills, and die-cast structural parts, and will continue to offer battery cases and integrated chassis systems.

-The company has production sites in China, the U.S., Mexico, Thailand, Germany, Serbia, the U.K., and the Czech Republic, and R&D, design, and sales facilities in China, Germany, the U.S., Japan, and Korea.

-In 2020, the Minth Group and Hella established a 50-50 joint venture, Minth Hella (Jiaxing) Automotive Parts Co. The joint venture will design, develop, produce, test, and sell automotive parts such as radomes and illuminated logos.

-On April 27, 2021, the China headquarters and main sales office were relocated.

-In the fiscal year ending December 31, 2020, the Group's automotive components sales declined 3.61% year-over-year (y/y) to CNY 11,465.98 million, accounting for 92% of the Group's total sales, up 1.84 percentage points y/y.

Shareholders

-Listed on the Hong Kong Stock Exchanges (As of Dec.31, 2020)
Major Shareholders Shareholding Ratio (%)
Minth Holdings Ltd. 38.81
Mitsubishi UFJ Financial Group, Inc. 8.88
Matthews International Capital Management, LLC 6.91
Citigroup Inc. 5.60
Others 39.80
Total 100.00

Products

Trim Parts
-Front & rear windshield moldings
-Inner & outer beltline moldings
-Door frame opening moldings
-Bumper moldings
-Roof moldings
-Sill plates
-Cowl top panel
-Fender trims
-Mud trough
-Door frame molding / Side wall strip molding
-Top cover trim strip assembly
-Rear quarter windows
-Anti-trap sensors

Decorative Parts
-Wheel covers
-Door handle assemblies
-License plate appliques
-Quarter window trims
-Body side moldings
-Grille assemblies
-Front triangular inner covers
-Rear quarter covers
-Front door B-pillar covers
-Rear quarter windows
-Tailgate handles
-Rear deck lids
-Radiator grille assemblies
-Rear air spoiler assemblies
-Upper trim strip assemblies of rear license plate
-Pillar garnish
-Radar emblems
-Radar grilles

Automotive Functional Structural parts
-Roof rack assemblies
-Top cover ventilation window guide rail assemblies
-Plastic tailgates


Body structural parts
-Rear door frames
-Front door frames
-B-pillar covers
-Guide rails
-Door frame assemblies
-Aluminum door frame assemblies
-Guide rail assemblies
-Slide rail assemblies

Battery Housing & Chassis Structure
-Battery housings

Electronic Products
-Luminous emblems
-Rear view cameras
-Side view cameras
-Driver monitoring systems
-Occupancy monitoring systems
-Sensing cameras
-720P Surround view camera
-Streaming rearview mirror
-Smart B pillar

History

1992 Ningbo Minth Machines Co., Ltd. established. 
1999 Established Ningbo Shintai Machines Co., Ltd.
Started producing body structural parts
Established strategic alliance with Sankei Giken Holdings
2001 Established Guangzhou Minhui Automobile Parts Co., Ltd.
Established Chongqing Changtai Automobile Spare Parts Co., Ltd.
Relocated the plant to No.6 Dagang Road.
Established Hainan Jingrui Automotive Co., Ltd.
2002 Established Ningbo Tokai Minth Automotive Parts Co., Ltd.
Restructured in 2002
Strategic alliance with Tokai and Katayama
2003 Established Tianjin Xintai Automobile Parts Co., Ltd.
Established Jiaxing Minhui Automotive Parts Co., Ltd.
2004 Established Guangzhou Minrui Automotive Parts Co., Ltd.
Established Fuzhou Shintai Automotive Parts Co., Ltd.
Strategic alliance with Gifu Shatai
2005 Established Ningbo Guohong Automotive Co., Ltd.
Minth Group Ltd. established.
Formed strategic alliance with Kittel
Established Wuhan Minhui Automotive Parts Co., Ltd.
Established Jiaxing Kittel-Minth Automotive Parts Co., Ltd.
Listed on Hong Kong Stock Exchange in December.
2006 Established Chongqing Minth Automotive Parts Co., Ltd.
Established strategic alliance with Aisin
Established Guanzhou Tokai Minth Automotive Parts Co., Ltd.
Established Jiaxing El Triumph Automotive Parts Co., Ltd.
Established Jiaxing Shinyou Mold Tech Co., Ltd.
Established Shanghai Cogen Research And Design Co., Ltd.
Established Ningbo Minth Automotive Parts Research & Development Co., Ltd.
Established Cheerplan (China) Investment Co., Ltd.
Established Ningbo Taiyong Automotive Parts Co., Ltd.
Established Ningbo Minhe Machines Co., Ltd.
2007 Established Jiaxing Xinghe Automotive Parts Co., Ltd.
Strategic alliance with Dura
Established Changchun Minth Automotive Parts Co., Ltd
Established Jiaxing DURA Minth Automotive Parts Co., Ltd.
Established Jiaxing Minth Machines Co., Ltd.
Established Yantai Minth Automotive Parts Co., Ltd.
Established Minth North America, Inc
Established Plastic Trim International, Inc.
Established Minth International Limited
Established Minth Japan Limited
2008 Established Minth AAPICO (Thailand) Co.,Ltd.
Established strategic alliance with AAPICO Hitech
Established Jiaxing Guowei Automotive Co., Ltd.
Established Jiaxing Situ Automotive Co., Ltd.
2009 Established Ningbo Tairui Co., Ltd.
2010 Established Minth Gmbh Limited
Established Guangzhou Minth Automotive Co., Ltd.
Established Jiangsu Hexing Automotive Technology Co., Ltd.
Established Jiangsu Hetai Automotive Parts Co., Ltd.
Established Jiangsu Hetong Automotive Parts Co., Ltd.
Established Yantai Herui Automotive Parts Co., Ltd.
Established strategic alliance and a joint venture Wuhan Minth Nojima Automotive Parts Co., Ltd. with Nojima Seisakusyo to develop business of seat frame systems
2011 Established Wuhan Tokai Minth Automotive Parts Co., Ltd. with Tokai Kogyo Co., Ltd.
2012 Established TK Minth Mexico, S. A. de C. V. with Tokai Kogyo Co., Ltd
Feb. 2014 Huzhou Minchi Automobile Co., Ltd., the Company's subsidiary, was established.
Mar. 2014 Enboma Investments Limited, which is owned indirectly by the Company, and Sojitz Corporation signed an agreement that Enboma acquire all the shares (a 45.99 percent stake) that Sojitz owns in Plastic Trim International (PTI) in Michigan, U.S.A. After Eboma acquired the stock, it would own 95.81 percent of the joint venture.
Jul. 2014 The Company announced that Enboma Investments Limited, its indirect subsidiary, will acquire the remaining 4.19 percent share in Plastic Trim International (PTI) owned by Huge Leader Investments Limited for USD 450,000. After completion of the transaction, PTI will be a wholly owned subsidiary of Enboma.
Dec. 2015 By acquiring for CNY 56.42 million the 51% share held by Dura in the Jiaxing Dura Minth Automotive Parts Co., Ltd. joint venture, the JV became the Company's wholly owned subsidiary.
Apr. 2016 Cheerplan (China) Investment Co., Ltd., announced that the company and Fujitsu Electronics (Shanghai) Co., Ltd. will establish a joint venture. The new company will be capitalized at CNY 5.2 million, of which 60% will be invested by Cheerplan (China) and 40% will be invested by Fujitsu Electronics (Shanghai).
Apr. 2016 Cheerplan (China) Investment Co., Ltd., subsidiary of the Company, and Haartz Corporation, a U.S. based supplier of interior trim material, have jointly established Haartz-Minth (Ningbo) Automotive Ltd.
Aug. 2016 Minth Group Limited has agreed to establish a joint venture with Clean Wave (HK). The new company will be called Jiaxing Clean Wave E-Drive Systems Co., Ltd.
Mar. 2017 Minth Group Anji Headquarters Project was officially settled in the Anji Economic Development Zone.
Apr. 2019 The Company located a smart industrial park project for future vehicles in the Nanhu District, Jiaxing, Zhejiang Province. The project has an investment of USD 1.5 billion.
Jun. 2020 Haartz and TMG established a joint venture, Haartz-Minth (Ningbo) Automotive New Materials Co.
Jul. 2020 Minth Hella (Jiaxing) Auto Parts Co., Ltd. established as a 50-50 joint venture with Hella.
Apr. 2021 Changed the headquarters and main sales point in China to "No.1 Yazhong Road, Nanhu District, Jiaxing City, Zhejiang Province, China".

Supplemental Information 1