Huazhong In-vehicle(6830.HK): Takeaways from Company visit & Investment conference July 27, 2018 181

Company Profile

As an integrated auto part supplier, Huazhong In-Vehicle Holdings Company Limited (“Huazhong In-Vehicle”) mainly produces interior and exterior auto structures and decorative parts (bumpers; racks; dashboards; A, B, C, and D pillars; door sill plates, etc.), large- and medium-sized auto moulds, and shells/liquid receivers of air conditioners, as well as the production and sales of a small number of non-auto products, including office chair assembly/yacht engines and raw materials. The revenues of the above four segments accounted for 70%, 10%, 10%, and 10% among the total revenue in 2017, respectively. The Company is an international leader in the technology known as “replacing steel with plastics”, with which automobiles can be lightened up as their weights can be reduced to only a quarter to one-eighth while maintaining hardness and safety.

The Company has 22 manufacturing bases across China, an R&D team of more than 200 experts and over 4000 staff members. In 2012, it was listed in Hong Kong, and acquired HZ FBZ, a mould factory whose customers included European Mercedes Benz, BMW and Audi.

Takeaways from Company visit

In the middle of this month, we joined an investigation tour organised by Huazhong Invehicle. We visited two injection-moulding factories located in Ningbo, Zhejiang Province: Ningbo Huazhong (Hangzhou Bay) and Ningbo Huazhong Plastic Co., Ltd.; one mould factory: Ningbo Huazhong Mould; and one material factory: Hualuote.

About the author

Profile photo of Zhang Jing

Zhang Jing
Phillip Securities (HK)

Bachelor Degree in Tongji University of Engineering; Master Degree in East China Normal University of finance. Currently covering the automobile and air sectors. She has years of experience in investment research and is good at combining analysis for the companies with industry prospects.

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