Ningbo Huaxiang Electronic Co., Ltd.
Company Profile
Business Overview
-The Company is a manufacturer of automotive products and systems such as interior and exterior systems, electronic parts, HVAC systems, and engine parts. For example, its major products include instrument panels, door trims, walnut paneling, consoles, front/rear glass trim, line protectors, climate-control evaporators, and stamped products.
-The Company operates joint ventures with European auto parts manufacturers including Merkt, Schlemmer, Delphi、 Inoac、Grupo Antolin, and Miller as well as with major parts suppliers in China.
-Major products: automotive interior/exterior systems and stamped-metal chassis parts, welded parts, and electronic parts.
-The Company established several production facilities in recent years and now has facilities in Ningbo, Changchun, Shenyang, Chengdu, Tianjin, Foshan, Qingdao, Chongqing, Changsha, Wuhan and Nanjing. It has established several production facilities in Europe, North America and Southeast Asia.
-It delivers products mainly to Chinese OEMs such as Shanghai Automotive Industry Corporation, China FAW Group Co., and Great Wall Motor, but also to Volkswagen, BMW, Mercedes-Benz, Audi, GM, Ford, Toyota, Nissan, Jaguar Land Rover, Tesla, and Volvo.
Shareholders
| -Listed on the Shenzhen Stock Exchange | (as of Dec. 2019) |
| Major Shareholders | Shareholding Ratio |
| Zhou Xiaofeng | 14.36% |
| Ningbo Huaxiang Equity Investment Co., Ltd. | 7.78% |
| Xiangshan Lianzhong Investment Co., Ltd. | 4.66% |
| Others | 73.20% |
| Total | 100% |
Products
Interior parts
-Instrument panel assemblies
-Door trims
-Door panels
-Wooden trims
-Center consoles
-Pillars
-Dashboards
-Roof
-Headrest
-Duct
-Fuel filler cap
Exterior parts
-Rearview mirrors
-Spoilers
-Bumpers
-Grills
-Wrapping glass
Decoration trims
-Real wood trim
-Real aluminum trim
-Carbon fiber trim
-Light transmission trim
-In mold decoration trim
Body metal parts
-Body Stamping parts
- Body in White
- Floor
- Bumper beam
- Door sill
- Trims
-Body chassis
- Steering column
- Steering spindle
-Welding sunroof
-Emission system
Electronic products
-Mirror system
-Electronic control unit
-Protection system for line and harness
-New energy battery pack components
Other parts
-Air conditioning duct systems
-Mufflers
-Exhaust modules
History
| Nov.1988 | Established Ningbo Huaxiang Electronic Co., Ltd. jointly with Hongkong Ningxing Company. |
| Jan. 2002 | Established Ningbo Merkt Automotive Decorative Parts Co., Ltd. |
| Dec.2002 | Established Ningbo Inoac Huaxiang Automobile Products Co., Ltd. to manufacture and sell automotive components made of resin. |
| June2005 | Listed on the Shenzhen Stock Exchange. |
| Dec.2005 | Transferred the share of Jilin Changchun Silencer Co., Ltd and established Changchun Huaxiang Car Silencer Co., Ltd. |
| June2006 | Established Gongzhuling Antolin Huaxiang Auto Trim Products Co.,Ltd. |
| Nov.2007 | Established Ningbo Antolin Huaxiang Automobile Products Co.,Ltd. with Grupo Antolin Irausa, S.A. |
| Jan. 2008 | Bought shares in Fawer Automotive Parts, becoming the largest shareholder of Fawer Automotive Parts Co., Ltd. |
| Dec.2008 | Ningbo Inoac Huaxiang Automobile Products Co., Ltd. established Recticel Inoac Huaxiang Co. (RIHX) with Recticel NV of Belgium. |
| Aug.2009 | Transferred 73.8% shareholding of Liaoning Luping Machinery Co.,Ltd. |
| Sep.2009 | Transferred 29% shareholding of Fawer Automotive Parts Co., Ltd. |
| Aug.2010 | Transferred 51% shareholding of Shanghai Huaxin Automobile Rubber & Plastics Product Company to the Huaxiang Group. |
| 2012 | The subsidiary Ningbo Merkt Automotive Decorative Parts Co., Ltd renamed for Ningbo Huaxiang Trem Automotive Decorative Parts Co.,Ltd. |
| May 2013 | Ningbo SMR Huaxiang Automotive Mirrors Ltd., in which the company has a 50 percent share, invested 80.76 million yuan to establish Chongqing SMR Huaxiang Automotive Mirrors Ltd. at the Chongqing Xipeng Industrial Park. |
| The Company established Gongzhuling Antolin Huaxiang Auto Trim Products Co.,Ltd. with Antolin Shanghai Autoparts Co., Ltd. | |
| The Company acquired a 49 percent share in Faurecia (Chengdu) Emission Control Technologies Co., Ltd. | |
| The Company acquired 100% share of HIB Trim Part Group. | |
| Jun. 2014 | The Companyh established a new joint venture with Jiangling Motors Corporation in Nanchang, Jiangxi. |
| Aug. 2014 | NBHX Automotive System GmbH,the Company's wholly subsidiary, acquired a 75 percent share in Germany-based Alterprodia at the price of EUR 900,000. |
| Dec. 2014 | The Company announced that it signed a contract with Shenyang Fengmei Plastic Co., Ltd., under which Ningbo Huaxiang Electronic will acquire part of Shenyang Fengmei Plastic's assets for CNY 27 million. |
| Mar. 2016 | The Company will acquire 93.63% stake in Shanghai Global Precision Mould & Plastics Co., Ltd., which is owned by Ningbo Fengmei Industrial Co., Ltd., Shen Zhongxing, Low Tai Huat, and Shanghai Fanshi Investment Consulting (Limited partnership). The company will spend CNY 600 million for this deal after issuing new shares. |
| Mar. 2016 | The Company announced that it will issue new shares and acquire 100% stake in Ningbo Lawrence Automotive Interiors Co., Ltd. from Ningbo Fengmei Industrial Co., Ltd. for CNY 1.37 billion. |
| Jun. 2016 | The Company announced that it has agreed with Grupo Antolin Irausa, S.A. that it will acquire the 50% of Yangzhou Antolin Huaxiang Auto Trim Products Co., Ltd. shares that are held by Grupo Antolin Irausa for CNY 46 million. |
| Jun. 2016 | The Company announced that it has agreed with Grupo Antolin Irausa, S.A. that it will acquire the 50% of Ningbo Antolin Huaxiang Automobile Products Co., Ltd. shares that are held by Grupo Antolin Irausa for CNY 119 million. |
| Oct. 2016 | The Company signed an agreement with HIB Rolem Trim on a USD 30 million plant project in Romania. |
| Jun. 2017 | The Company set up a new company with a capital of CNY 6 million, jointly with CIMC Vehicles Group Co., Ltd. The joint venture, tentatively named Ningbo Huaxiang Automotive New Materials Co., Ltd, will be owned 60% by Ningbo Huaxiang Electronic and 40% by CIMC Vehicles Group. |
| Oct. 2018 | Acquired 10% of the stock shares in Changchun FAWSN Group Co., Ltd. |
| Jan. 2019 | Established a wholly owned subsidiary in Japan to be the contact point for technology and marketing; at a cost of USD 5 million. |
| Aug. 2019 | Acquired 2.4% of the stock shares in Changchun Huaxiang Car Silencer Co., Ltd. |
| Oct. 2019 | Established Fawer Xinchuang New Energy Battery Co., Ltd., a joint venture with Liaoyuan Automobile Refit Co., Ltd. and Fawer Automotive Parts Limited Company. |