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Status of Automotive Fastener Maker Zhejiang Huayuan and Related Companies
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2022-10-04
Zhejiang Huayuan Auto Parts develops, manufactures and sells customized automotive system connectors, most of which are special fasteners for automotive chassis, power system, security system and interior/exterior system. In 2021, the company's net profit soared 318.26% (RMB 200 million), and sent out a dividend of RMB 188 million which was 94.03% of the total net profit. However, 2021 also recorded the company's lowest profit margin within the last three years. Further, its recent R&D investment was low at around 5% of total revenues.
Essence Fastening Systems and Zhejiang Changhua Auto Parts respectively dropped 37.38% and 65.72% in net profit for the first half of 2022. Suzhou Cheersson Precision Metal Forming's profit increased 41.72%. Changhua attributed the drop to the COVID, production halt of automakers, supply chain disruption, material price and labor cost hike, which led to decreased gross profit margin leading to a drop in profit.
浙江華遠
車用緊固件
Zhejiang Huayuan
automotive fastener
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2022-10-04
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