Jiangsu Yongding Co., Ltd. won the bid for the 2.5 billion vehicle wiring harness project.
2022-12-02
Recently, Yongding's wholly-owned Sun Company Jinting Automotive Wire Harness received an email notification from a domestic mainstream automobile company to win the bid and successfully obtained the whole vehicle wire harness business. The total life cycle sales of this project is about 2.5 billion yuan.
Recently, Yongding's wholly-owned Sun Company Jinting Automotive Wire Harness received an email notification from a domestic mainstream automobile company to win the bid and successfully obtained the whole vehicle wire harness business. The total life cycle sales of this project is about 2.5 billion yuan.
The project belongs to Jinting service passenger car wiring harness business, the future will further enhance the company's automotive wiring harness business market share, to help the company further optimize product costs, improve competitiveness. According to the company's strategic plan, Jinting wiring harness will develop a series of wiring harness products that meet the needs of the passenger car market, support the company's auto parts business sector to become bigger and stronger, and become a mainstream enterprise in the industry. The performance of this batch of project contracts is expected to have a positive impact on the company's future operating performance and help improve the company's overall profitability.
According to the China Association of Automobile Manufacturers, from January to September 2022, China's automobile production and sales reached 19.632 million and 19.47 million respectively, up 7.4 percent and 4.4 percent year-on-year. Among them, the production and sales of passenger cars reached 17.206 million and 16.986 million respectively, up 17.2 and 14.2 respectively. In the next few years, China will still be the fastest growing country in the world. Vehicle production will continue to rise, especially new energy vehicles show strong momentum growth.
The company's current customers include SAIC Volkswagen, SAIC GM, Cornings and Volvo. New energy vehicle customers include Huawei, BYD, Weilai, Xiaopeng, Ideal and other new car-making forces, with the gradual development of the industry, the company's automotive wiring harness business will also be rapidly improved.
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