/ Aswendong/August 04, 2022 Guangzhou -- Changying Precision (300115.SZ), a GEM listed company, is one of the more and more listed companies entering the promising "track" of new energy vehicles (NEVs) amid the huge growth space in the NEVs market.
On the basis of having subsidiaries such as Suzhou Corrente, Shanghai Lingang and other parts production bases for new energy vehicles, Changying Precision has also built power battery structural parts factories in Yibin, Sichuan, Liyang, Changzhou and Ningde, Fujian, becoming a leading supplier of new energy vehicles and power battery parts in China. Up to now, Changying Precision has built power battery structural parts production lines in Yibin, Sichuan Province, Liyang, Changzhou and Ningde, Fujian Province with leased plants, which can serve customers nearby and give full play to the regional advantages of the industrial chain.
In February this year, Changying Precision acquired industrial land in Zigong, Sichuan for the construction of lightweight materials and precision structural parts production base. The land area of the first-phase project is about 250 mu, and it plans to build 4 production lines of lightweight materials and precision structural parts. It has an annual production capacity of 30,000 tons of high-end aluminum extruded profiles for new energy vehicles, 200,000 pieces of energy storage modules and precise structural parts for automotive PACK.According to Xingxin Electronics Research report, in the field of new energy business, Changying Precision focuses on the layout of Tesla, Ningde and other well-known car manufacturers and battery factories, mainly providing high-voltage connector BUSBAR and cell/module /PACK structural parts business. Changying Precision is also the core supplier of M5 of Wangjie (electric connection busbar + battery pack box). ASP is expected to exceed 3000 yuan. Based on the broad growth space of the new energy market, Xingxin Electronics expects the company's new energy business revenue contribution to exceed 2 billion yuan this year, double that of last year, and will continue to maintain high growth in the next three years.
Thanks to the production of major new energy vehicles and power battery structural parts, Changying Precision's new energy business revenue also increased. According to the financial statements over the years, the operating revenue contributed by Changying's new energy vehicle components business from 2018 to 2021 was 236 million yuan, 405 million yuan, 503 million yuan and 1.129 billion yuan respectively, which increased nearly four times in 3 years. The above data shows that Changying Precision's new energy vehicle related business is in a state of rapid growth.In the visible future, new energy vehicles are still the national industrial development focus, Changying Precision and other related enterprises still have a huge space for development. Recently, the Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Ecology and Environment issued the "Industrial sector carbon peak implementation plan", proposed to increase the supply of green and low-carbon products in the field of transportation, to improve the city bus, taxi, postal express, sanitation, urban logistics distribution and other fields of new energy vehicles proportion, increase the proportion of personal consumption of new energy vehicles. By 2030, about 40 percent of new vehicles powered by new and clean energy will be added, and the CO2 emission intensity of new passenger vehicles and commercial vehicles will be cut by more than 25 percent and 20 percent from 2020, respectively. The Implementation plan also calls for the development and demonstration of electric heavy trucks and hydrogen-fueled vehicles.
