Core Viewpoint - Jiangyin Huaxin Precision Technology Co., Ltd. (Huaxin Precision) is set to go public on the Shanghai Stock Exchange, marking a significant milestone for the company and reflecting the growing competitiveness of Chinese precision manufacturing in the global new energy industry [1] Company Development Stages - Stage 1 (2002-2009): The company was established as Jiangyin Huaxin Electric Co., Ltd., focusing on electromagnetic stamping parts, primarily producing EI cores for electrical equipment and expanding into micro-motor cores for home appliances [2] - Stage 2 (2009-2018): The company diversified its product offerings to include automotive cores and made significant breakthroughs in the new energy vehicle (NEV) drive motor core market, establishing relationships with major international automotive parts manufacturers [3] - Stage 3 (2018-Present): Huaxin Precision has become a mainstream supplier of NEV drive motor cores, achieving substantial growth in this segment, with sales of NEV drive motor cores increasing from 235 million yuan to 828 million yuan from 2021 to 2024, reflecting a compound annual growth rate (CAGR) of 52.1% [4] Financial Performance - The company's revenue is projected to grow from 1.192 billion yuan in 2022 to 1.421 billion yuan in 2024, with a CAGR of 9.2%, while net profit is expected to rise from 114 million yuan to 150 million yuan during the same period, with a CAGR of 14.7% [5] - In the first half of 2025, the company reported revenue of 752 million yuan, a year-on-year increase of 19.4%, and a net profit of 98 million yuan, up 13.5% year-on-year, indicating strong growth momentum [5] Technological Advancements - The company has developed 80 authorized patents, including 18 invention patents, and has established a product system covering various types of cores for NEV drive motors, micro-motors, and electrical equipment [5] - Huaxin Precision's proprietary "in-mold gluing technology" enhances the rigidity, electromagnetic performance, and efficiency of cores, successfully applied in BMW's fifth-generation drive motor production [6] Market Position and Strategy - The company holds a market share of approximately 8.12% in the global NEV drive motor core market and ranks among the top three domestic automotive parts manufacturers [6] - The upcoming IPO aims to raise funds for expanding production capacity and enhancing R&D capabilities, with 445 million yuan allocated for NEV drive motor core expansion and 67 million yuan for a precision stamping and mold R&D center [7][8] Global Expansion and Future Outlook - The company has established subsidiaries in Singapore and Mexico, aiming to deepen cooperation with international clients and enhance its global market share [9] - The global NEV sales are projected to grow from 6.7 million units in 2021 to 18.236 million units in 2024, with the drive motor core market expected to reach $4.678 billion by 2030, growing at a CAGR of approximately 11.85% [7][8]
华新精科即将上市：专注精密冲压二十载 成宝马、比亚迪核心供应商