Ningbo Huaxiang Electronic Co., Ltd.

Company Profile

■URL

http://www.nbhx.com.cn

■Address

6F, Block A, No.1168, Century Avenue, Pudong, Shanghai, China

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, DelphiInoacGrupo 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.

Supplemental Information 1