Zhejiang Wanliyang Co., Ltd.

Company Profile

■URL

http://en.zjwly.com

■Address

No. 3999, Binhong West Road, Jinhua City, Zhejiang, China

Business Overview

-The Company is one of the largest transmission manufacturers in China. It is mainly engaged in R&D, production and sales of automotive transmissions, transmission systems, and drive systems for new-energy vehicles. The products can be divided into the following 3 categories:

  • Commercial vehicle transmissions:Manual transmissions (5MT, 6MT, 7MT, 9MT) and AMT, ECMT
  • Passenger car transmissions:Manual transmissions (5MT, 6MT) and automated transmissions (CVT, AT)
  • Transmission systems and drive systems for PHEVs: EV speed reducer; ED 2-in-1 eDrive system; EDS 3-in-1 eDrive system, ECVT eDrive system;HEV based on AT and CVT; and PHEV hybrid transmissions and driving assemblies.

-The Company is a leading manufacturer of transmissions for mini trucks, light trucks, medium trucks, heavy-duty trucks, buses, SUVs, MPVs, as well as passenger vehicles. Passenger-car transmissions are mainly supplied to models of Chery, Geely, BYD, Great Wall Motor, Qoros and the FAW Group, while commercial-vehicle transmissions are supplied for models of BeiqiFoton, China National Heavy Duty Truck, Dongfeng, FAW Jiefang, JMC, JAC, Hyundai, as well as other OEMs from the Indian and Brazilian markets.

-The Company's production plants that build transmissions for commercial vehicles are located in Jinhua, Zhejiang Province; and Pingyi County, Shandong Province. Transmissions for passenger cars are built at production plants in Wuhu, Anhui Province; and Ningbo, Zhejiang Province.

-On December 16, 2020, the one-millionth CVT transmission rolled off of the production line at the passenger-car transmission plant in Jinhua. Between 2016 and 2020, the Company’s CVT automatic transmissions had been delivered to more than 16 vehicle models. 

Shareholders

-The Company is listed on the Shenzhen Stock Exchange (as of Dec. 31, 2020)
Shareholders Shareholding Ratio
Wanliyang Group Co., Ltd. 28.66%
Xianggang Libang Co., Ltd. 14.64%
Chery Automobile Co., Ltd. 12.34%
Jinhua Zhongcheng Investment Co., Ltd. 3.94%
Others 40.42%
Total 100.00%

Products

Transmission and parts
-Manual transmissions
-Automatic transmissions
-Continuously variable transmissions
-ECVT
-HCVT
-Gears
-Synchronizers
-Castings
-Housing covers
-gear shaft
-Torque converter
-Brake drum

Drive System for PHEV
-Continuously variable transmissions for PHEV
-Motor controllers
-Drive assemblies
-Permanent magnet synchronous motors
-AC motors
-Reduction gear

History

Nov. 1998 Shandong Menwo Transmission Co., Ltd., the Company's subsidiary, was established.
1999 The Company began producing transmission.
2003 Zhejiang Wanliyang Transmission Ltd., the Company's predecessor, was established.
Aug. 2003 Jinhua Wanliyang Machinery Manufacturing Co., Ltd., the Company's subsidiary, was established.
Sep. 2007 Taizhou Geely Fada Auto Transmission Co., Ltd., the Company's subsidiary, was established.
May 2008 Jinhua Wanliyang Transmission Co., Ltd., the Company's subsidiary, was established.
Sep. 2009 Sichuan Wanliyang Transmission Co., Ltd., the Company's subsidiary, was established.
Jan. 2010 Zhejiang Meiyidun Transmission Co., Ltd., the Company's subsidiary, was established.
Jun. 2010 Listed on Shenzhen Stock Exchange.
Jun. 2011 The Company cooperated with Geely to enter into car transmission market.
Jan. 2013 The Company passed Tata's quality system audit and became Tata's supplier.
Apr. 2014 The Company completed construction of Wanliyang Automotive Transmission Institute.
Jan. 2016 The Company changed its name from "Zhejiang Wanliyang Transmission Co., Ltd. " to "Zhejiang Wanliyang Co., Ltd."
May 2016 The Company acquired 100% of Wuhu Chery Transmission Co, Ltd. shares from Chery for CNY 2.6 billion.
The Company acquired all Ningbo Wanming Auto Parts Co., Ltd. shares owned by Zhejiang Antong Investment Co., Ltd. and Mr. Li Biao, a private investor, for CNY 20 million. 
The Company increase its shareholding in Shandong Menwo Transmission Co., Ltd., its subsidiary, to 66.12% from the current 53.88% by acquiring the 12.24% stake held by Linyi Sincerity Investment Co., Ltd.
Jun. 2016 The Company signed an agreement with Liaoyang Guoyue Investment Co., Ltd. and Liaoyang Kunpeng Investment Management Co., Ltd. concerning its acquisition of Jinxing Automotive Interior Co., Ltd.'s shares.  Jinxing Automotive Interior became a wholly owned subsidiary of the Company. 
Jul. 2016 Ningbo Wanming changed its name into "Ningbo Wanliyang Transmission Co., Ltd.", at the State Administration for Industry & Commerce
Dec. 2016 The Company and GIF Research Center (China) Ltd. agreed to establish GRC Automotive Technology (Zhejiang) Co., Ltd. A total of CNY 20 million will be invested in the joint venture, of which CNY 11 million (55%) will be provided by Zhejiang Wanliyang and CNY 9 million (45%) will be provided by GIF.
The Company invested CNY 500 million from its own resources to establish a new company in Jinhua, Zhejiang Province. The new company will be called Zhejiang GIF Automotive Drive System Co., Ltd.
Feb. 2017 Jinxing Automotive Interior Decoration Co., Ltd., a wholly owned subsidiary of the Company, and Inteva Products, LLC. signed a letter of intent to form a joint venture. Investment in this project is expected to reach approximately USD 15 million, of which 51% will be invested by Inteva Products and 49% will be provided by Jinxing Automotive Interior Decoration.
May. 2017 Jinxing Automotive Interior Co., Ltd. changed its name to "Liaoning Jinxing Automotive Interior Co., Ltd."
Jan. 2018 The Company and Jinfei Holding Group Co., Ltd. announced establishment of Fuyuan Feiyang Automotive Components Co., Ltd. with a 50:50 investment.
Feb. 2018 The Company established Fuyuan Feiyang Automotive Components Co., Ltd. with Jinfei Holding Group Co., Ltd. The joint venture will produce and sell aluminum auto parts.
May. 2018 The Company's wholly-owned subsidiary, Wuhu Wanliyang Transmission Co., Ltd., had completed the procedure to register its subsidiary, Zhejiang Wanliyang New Energy Drive Technology Co., Ltd.
Mar. 2019 The Company announced that it deregistered wholly-owned subsidiaries Zhejiang Meiyidun Transmission Co., Ltd. and Sichuan Wanliyang Transmission Co., Ltd.
Sep. 2019 The Company invested CNY 20 million to set up a wholly owned subsidiary named Liaoning Haosen Auto Parts Co., Ltd. and transferred all shares in the subsidiary to Zhejiang Dongshun Automotive Trim Co., Ltd. on January 19, 2020.
Nov. 2019 The Company invested CNY 29 million to establish Zhejiang Dongshun Automotive Trim Co., Ltd. and held its 29% shares.
Dec. 2019 The Company transferred 100% shares in its subsidiary Liaoning Jinxing Automotive Interior Co., Ltd. to Zhejiang Dongshun Automotive Trim Co., Ltd. at a price of CNY 165 million.
May. 2020 Established Zhejiang Wanliyang Precision Manufacturing Co., Ltd., a wholly-owned subsidiary.
Jul. 2020 Acquired 55% of the stock in GRC Automotive Technology (Suzhou) Co., Ltd. (Formerly: GRC Automotive Technology (Zhejiang) Co., Ltd.).
Oct. 2020 Established Zhejiang WanLiYang Intelligent Transmission Co., Ltd.
Nov. 2020 Acquired 100% of the stock shares in Liaoning Yixing Auto Parts Co., Ltd.
Dec. 2020 Acquired 30.21% of the stock shares in Ningbo Wanzhong Auto Parts Co., Ltd.

Supplemental Information 1