Wanxiang Qianchao Co., Ltd.

Company Profile

■URL

http://www.wxqc.com.cn

■Address

Wanxiang Road, Xiaoshan District, Hangzhou, Zhejiang 311215, China

Business Overview

-China's largest supplier of automotive components in the private sector.

-A major company of the Wanxiang Group producing automotive products such as chassis, suspension systems,  brake systems, drive systems, fuel exhaust systems, wheel hub units, bearings and precision forging parts.

-Its products carry the the brand name "QC".

Shareholders

-Listed on the Shenzhen Stock Exchange (as of Dec., 31, 2018)

Name or Company Name Shareholder Ratio
Wanxiang Group 56.51%
China Securities Finance Co., Ltd. 2.98%
China Automotive Industry Investment and Development Co., Ltd. 2.01%
Others 38.50%
Total 100.00%

Products

Chassis and Suspension products
- Chassis modules
- Suspension modules
- Axle modules
- Front axle modules
- Rear axle modules
- Shock absorbers
- Steering systems
- Power steering
- Steering linkages
- Tie rods
- Steering knuckles
- Steering columns
- Steering ball studs
- Coil springs
- Stabilizers
- Stabilizers
- Steel wheels
- Chassis parts
- Suspension parts

Brake systems
- Brake modules
- Drum brakes
- Disk brakes
- Air brakes
- Electromagnetic brakes
- Brake calipers
- Vacuum boosters
- Brake wheel cylinders
- Brake master cylinders
- Brake valves
- Brake pads
- Retarders
- ABSs
- Brake Caliper Assemblies

Driveline systems
- Drive shafts
- CVJ drive shafts
- Universal joints
- Cardan joints
- Constant velocity joints
- Precision universal joints
- Cross spiders

Wheel hub units
- Wheel hubs
- Wheel hub units with ABS sensors

Bearing, Bearing parts
- Taper roller bearings
- Cylindrical roller bearings
- Deep-groove ball bearings
- King pin bearings
- Clutch bearings
- Water Pump bearings
- Main shaft bearings
- Ball bearings
- Micro bearings
- Wheel hub bearings
- Steering bearings
- Clutch bearings
- Transmission bearings
- Tension idler bearings
- Steel balls
- Rollers
- Needle rollers
- Steel wires

Electric parts
- Wipers
- Wiper motors
- Electromagnetic clutches for automotive air conditioners

Plastic products
- Seals
- Dust boots

Casting/Forging products
- Spherical graphite cast iron parts

Engine parts
- Mufflers
- Water pumps

Others
- Exhaust pipes
- Mufflers
- Cooling fan couplings
- Fuel tanks
- Bumpers
- Air ducts
- Wheel Assemblies

History

July 1969 Mr. Lu Guanqiu founded a farming machine repair factory; Xiaoshan County Ningwei People's Commune Farm Machinery Factory.
Dec. 1973 Changed its name to Xiaoshan County Ningwei People's Commune Farm Machinery Factory". Produced farming machinery and parts.
July 1978 Changed its name to Ningwei Universal Joint Plant, Xiaoshan Pref.
1979 Restructured its business of diversified products and concentrated on universal joints for imported cars.
Mar. 1983 Began self management by Mr. LU Guanqiu.
Apr. 1984 Started exporting automotive parts, the first in China.
May 1984 Changed its name to "Hangzhou Universal Joint Plant".
1988 Established Zhejiang Wanxiang Automobile Bearing Co., Ltd., which is now called Zhejiang Wanxiang Jinggong Co., Ltd.
Aug. 1988 Changed its name to "Hangzhou Universal Joint General Factory".
Mar. 1990 Established Zheijiang Wanxiang Special Bearing Co., Ltd., which is now called Qianchao Bearing Co., Ltd.
Oct. 1990 Changed its name to "Zhejiang Wanziang Machinery & Electric Group".
Jan. 1991 Promoted to a National First Class Company.
Sep. 1991 Changed the group name to "Zhejiang Wanziang Group".
1992 Established Hangzhou Wanxiang Transmission Shaft Co., Ltd.
July 1992 Established Zhejiang Wanxiang Machnery Co., Ltd., which is currently called Wanxiang Qianchao Co., Ltd. CVJ Drive Shafts Plant.
Mar. 1993 Changed the group name to Wanxiang Group.
Jan. 1994 Established Wanxiang Qianchao Co., Ltd., which was listed on the Shenzhen Stock Market.
Sep.1994 Established Wanxiang Qianchao Zhejiang Rubber Industry Products Co., Ltd., which is now called Wanxiang Qianchao Co., Ltd. Rubber Industry Products Works.
Jan. 1996 Jointly established Xuchang Wanxiang Qianchao Zhongya Co., Ltd. with Xuchang Auto Transmission Shaft General Factory. The joint venture is now called Xuchang Wanxiang Qianchao Yuandong Co., Ltd.
Oct. 1996 Established Jiangsu Wanxiang Longshan Bearing Co., Ltd., which is now called Jiangsu Qianchao Bearing Co., Ltd.
1997 Established Wanxiang Qianchao Co., Ltd. Shock Absorber Plant.
Aug. 1997 Wanxiang Qianchao began supplying to General Motors in the U.S.
1999 Established Zhejiang Wanxiang Systems Co., Ltd.
Aug. 1999 Established Wuhan Wanxiang Automotive Brake Co., Ltd.
Dec. 1999 Hangzhou Wanxiang Transmission Shaft Co., Ltd. was awarded a contract from Ford to supply transmission shafts.
Sep. 2000 Establishing Harbin Wanxiang Hafei Auto Chassis System Co. ,Ltd.
2000 Established Xiaoshan Casting & Forgings Co., Ltd.
Feb. 2001 Established Xiaoshan Wanxiang Shele Precision Universal Joint Co., Ltd, a joint venture with Wanxiang America Corporation.
Dec. 2001 Established Huainan Wanxiang Special Bearing Co., Ltd., which is currently called Huainan Qianchao Bearing Co., Ltd.
Jan. 2003 Established Jiangxi  Wanxiang Changhe Auto Chassis System Co., Ltd.
2003 Changed the name of Zhejiang Wanxiang Automobile Bearing Co., Ltd. to Zhejiang Wanxiang Jinggong Co., Ltd.
Feb. 2003 Established Zhejiang Wanxiang System Co., Ltd. Hainan Branch.
July 2003 Established Hubei Wanxiang Auto Parts Co., Ltd.
Nov. 2003 Established Huainan Qianchao Bearing Parts Co., Ltd.
Nov. 2003 Established Wanxiang Qianchao (Guilin) Chassis Parts Co., Ltd.
Dec.2003 Zhejiang Wanxiang System Co., Ltd. Liuzhou Factory.
Dec. 2003 Established Hefei Wanxiang Qianchao Automotive Parts Co., Ltd.
2003 Established Zhejiang Wanxiang System Co., Ltd. Wuhu Factory.
March 2004 Zhejiang Wanxiang Systems Co., Ltd. gained an 80% ownership in Henan Automotive Brake Co., Ltd. and changed the company's name to Henan Wanxiang Systems Brake Co., Ltd. The accounts of Henan Wanxiang Systems Brake was included in Wanxiang Qianchao's consolidated financial statements.
Jan. 2005 The Company and Sojitz Corporation jointly established Ningbo Qianchao Auto Parts Co., Ltd. to manufacture roller elements for bearings.
May 2005 Established Ningbo Qianchao Auto Parts Co., Ltd. to manufacture universal joints.
Dec. 2006 Harbin Wanxiang Hafei Auto Chassis System Co. ,Ltd. established Harbin Wanxiang Automotive Parts Co., Ltd. to manufacture chassis parts.
Jul. 2007 The Wanxiang Group acquired 30 percent of the stock in Android Industries (AI), which is based in the U.S.A.,becoming the largest shareholder of the U.S.-based company.
Feb. 2008 Neapco LLC (Wanxiang's holding company in Pennsylvania, USA ), Ford, and Automotive Components Holdings (ACH) reached a final agreement under which Neapco acquired ACH's propeller shaft plant located in Monroe, Michigan, U.S.A.
Apr. 2009 The Wanxiang Group acquired the steering shaft business of U.S.-based DS, a former steering shaft manufacturer in the Timken Group.
Aug. 2010 Zhejiang Wanxiang Jinggong Co., Ltd., established Jiangsu Wanxiang Jinggong Co., Ltd. to manufacture wheel hub units.
Dec. 2010 Established Wanxiang Qianchao(Shanghai) Auto System Co.,Ltd. to manufacture anti-lock brake systems and brake system modules.
Jan. 2013 Acquired A123 System Inc., an American company.
Feb. 2014 Acquired Fisker Automotive, an electric vehicle manufacturer in the U.S.
Jun. 2014 A123 Systems, a wholly owned subsidiary of the Company, completed the transactions to acquire battery-related technology from Leyden Energy.
Nov. 2014 The Company signed a contract with Zhejiang Founder Motor Co., Ltd. to transfer the entire 57.9 percent shareholding in Hubei Qianchao Auto Parts Co., Ltd. to Zhejiang Founder Motor.
Harbin Wanxiang Hafei Auto Chassis System Co. ,Ltd., the Company's subsidiary, absorbed Harbin Wanxiang Automotive Parts Co., Ltd. into its own operations. Harbin Wanxiang Automotive Parts is no longer an independent company after the absorption.
The Company dissolved and liquidated Ningbo Qianchao Auto Parts Co., Ltd., its wholly owned subsidiary.
July 2015 The Company and Shanghai Automotive established a joint venture to produce new energy buses in Hangzhou.
Aug. 2015 Mergered Wuhan Tongda Weiye Economic Development Co., Ltd.
Dec. 2015 Established a wholly-owned overseas subsidiary, Wanxiang Qianchao (U.S.) Co., Ltd.
Established a wholly-owned overseas subsidiary, Wanxiang Qianchao (Europe) Co., Ltd.
May. 2016 Zhejiang Wanxiang System Co., Ltd., a subsidiary of Wanxiang Qianchao Co., Ltd., announced that the company and Zhejiang Shitai Industrial Co., Ltd. agreed that Zhejiang Wanxiang System will transfer its entire 80% shareholding in Wanxiang Qianchao (Guilin) Chassis Parts Co., Ltd. to Zhejiang Shitai for CNY 31 million.
Nov. 2016 The Company's subsidiary Wanxiang Tongda Co., Ltd. announced that it will absorb Shiyan Gunuoer Automobile Fuel Tank Co., Ltd., its subsidiary, into its own operations. Shiyan Gunuoer Automobile Fuel Tank will be deregistered after this reorganization.
Apr. 2017 A123 Systems, the subsidiary of Wanxiang Group, announced that its headquarters will be transferred from Livonia, Michigan to Novi.
Oct. 2017 Dissolve and liquidate the Xiaoshan Wanxiang Scheller Precision Universal Joint Co., Ltd., its holding subsidiary.
Oct. 2017 Wanxiang Tongda Co.,Ltd, the holding subsidiary, transferred 100% equity of Shiyan Judi Metal Pipe Co., Ltd., its wholly-owned subsidiary, to Shiyan Xinbaiqiang Co.,Ltd.
Feb. 2018 Wanxiang Tongda Co.,Ltd, the holding subsidiary, transferred 76.38% equity of Bengbu Tongda Auto Parts Co., Ltd. its wholly-owned subsidiary, to Qinghe County Yongfeng Auto Parts Manufacturing Co., Ltd.
Jun. 2018 Xuchang Yuandong Drive Shaft Co., Ltd. and Wanxiang Qianchao Co., Ltd. signed a contract regarding share transfer. Xuchang Yuandong Drive Shaft is going to acquire a 54.73% stake in Xuchang Qianchao Yuandong Auto Parts Co., Ltd., a joint company between the two companies, at the cost of Chinese yuan (CNY) 14.81 million.

Supplemental Information 1

>>>Business Report 2006
>>>Business Report 2007
>>>Business Report 2008
>>>Business Report 2009
>>>Business Report 2010 
>>>Business Report 2011
>>>Business Report 2012
>>>Business Report 2013
>>>Business Report 2014
>>>Business Report 2015
>>>Business Report 2016
>>>Business Report 2017


Note: A figure in brackets ( ) indicates a loss


Volume of Production by Product (Subsidiaries)

(in thousand units)
Product Facility FY ended Dec. 31, 2015 FY ended Dec. 31, 2014
Universal joints Xuchang Qianchao Yuandong Auto Parts Co., Ltd. - 8,404
Drive shafts Hefei Wanxiang Qianchao Automotive Parts Co., Ltd. 280 -
Vacuum boosters Zhejiang Wanxiang System Co., Ltd. - -
Front suspensions and brake parts Zhejiang Wanxiang System Co., Ltd. Liuzhou Factory Branch - -
Horizontal stabilizer bars Wanxiang Qianchao (Guilin) Chassis Parts Co., Ltd. 512 -
Drum brakes 512 -
Disk Brakes Henan Wanxiang Systems Brake Co., Ltd. - 347
Brake discs - 543
Transmission shafts Wanxiang Qianchao Co., Ltd. - 5,789
Bearings - 87,527
Brake calipers Wanxiangqianchao (shanghai) Automotive Systems Co., Ltd. - 772

Source: China Automotive Industry Yearbook (issued every October