Yongding Co., Ltd. won the bid for 0.58 billion yuan new energy vehicle wiring harness project.

Recently, Jinting Automotive Wiring Harness Company, a subsidiary of Jiangsu Yongding Co., Ltd., received an e-mail notice from a domestic new energy automobile enterprise to win the bid, and successfully obtained the business of low-voltage wiring harness and battery pack wiring harness for the whole vehicle. The sales volume of this project in the whole life cycle is about 0.58 billion yuan.

The company stands out among many competitors by virtue of its excellent technical conditions. The customer of this cooperation is another important customer of the company in the new energy vehicle market, which will further enhance the company's ability to expand the new energy wiring harness business of local passenger car brands, enhance the market share of the company's automotive wiring harness business, and help the company further optimize product cost and improve competitiveness.

It was learned from the China Association of Automobile Manufacturers that from January to November 2022, my country's automobile production and sales reached 24.628 million and 24.302 million respectively, an increase of 6.1 and 3.3 percent year-on-year. Among them, the production and sales of passenger cars reached 21.702 million and 21.292 million respectively, up 14.7 and 11.5 respectively.

From January to November, the production and sales of new energy vehicles were 6.253 million and 6.067 million respectively, doubling year-on-year, with a market share of 25%.

After years of continuous efforts, the technical level of China's new energy automobile industry has been significantly improved, the industrial system has been increasingly improved, and the competitiveness of enterprises has been greatly enhanced. The industry has entered a new stage of superimposed convergence and integrated development. The rapid increase in the penetration rate of domestic new energy vehicles, the future market space is huge. The company keeps pace with the times, quickly adjusts its business strategy, and increases Rio Tinto's new energy vehicle customers. At present, in addition to traditional fuel car companies such as SAIC Volkswagen, SAIC GM, Cummins, Volvo and other car companies, the company's new energy car customers include new car-making forces such as BYD, Huawei, Weilai, Xiaopeng, Ideal and so on.

The company has benefited from the rapid development of the new energy vehicle industry, and the growth rate of related orders has been rapidly increased. The new energy vehicle wiring harness business will also become the company's new growth highlight. The company will comply with the market, actively expand new customers, and maintain the rapid advancement of new energy automotive wiring harness business.

In the future, the company will continue to expand its domestic market share and develop high-voltage wiring harnesses for new energy vehicles to meet market demand. Improve professional technical capabilities such as independent research and development and design, optimize production costs and efficiency, improve quality and control costs, support the company's auto parts business sector to become bigger and stronger, and become the 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.