Zhejiang Jinfei Kaida Wheel Co., Ltd. (“Jinfei Kaida”), a well-known aluminum alloy wheel manufacturer, stated in its 2021 performance report that after recent years of development, the company has shown its advantages in global layout and will continue to advance Global layout strategy. The company’s production bases in Yunnan and Ningxia have been completed and put into operation, laying a foundation for the company to save costs and improve resource utilization. At the same time, the planning and construction of Jinhua Smart Factory also laid the foundation for the company to develop high-end markets. The new factory established by the company in Jiangxi has been officially put into operation in February 2022, laying the foundation for the balanced development of electric wheels. In addition, the subsidiary Watson Manufacturing (Thailand) Co., Ltd. (“Watson Manufacturing”) has also been put into production one after another, basically achieving the company’s expected goals.
For the whole year of 2021, Jinfei Kaida’s operating income was 3.955 billion yuan, a year-on-year increase of 26.99%; its net profit was 135 million yuan, a year-on-year increase of 108.82%. Among them, relying on the zero-tariff advantage of Watson Manufacturing to promote the growth of sales in overseas markets, Watson Manufacturing achieved an operating income of 518 million yuan and a net profit of 29.7825 million yuan. At the same time, the overseas market structure was optimized, and the market share in Europe and Southeast Asia increased.
During the reporting period, Jinfei Kaida’s main business is aluminum alloy wheels, and its products cover the fields of automobile aluminum alloy wheels, motorcycle aluminum alloy wheels, electric bicycle wheels and intermediate alloys. Jinfei Kaida’s three major product segments of steam turbine, motor wheel and electric wheel will achieve sales of 2.021 billion yuan, 678 million yuan and 110 million yuan respectively in 2021. Among them, steam turbines and motorcycles both achieved a year-on-year increase in revenue, an increase of 41.38% and 25.15% respectively.
In the OEM market of automobile aluminum alloy wheels (complete vehicle supporting market), Jinfei Kaida said that the company has established stable cooperative and supporting relationships with domestic and foreign automobile manufacturers. In the motorcycle aluminum alloy wheel segment, Jinfei Kaida said that the company has increased the market share of large-displacement motorcycle wheels, and the overall order has been steady.
According to the data, Jinfei Kaida is a production enterprise integrating the production and sales of aluminum alloy wheels and components for automobiles, motorcycles and electric vehicles, as well as the development and manufacture of mechanical molds. It was listed on the Shenzhen Stock Exchange in April 2017. At present, Jinfei has set up production bases in Jinhua, Zhejiang, Guiyang, Guizhou, Yunnan, Ningxia, Jiangxi, as well as Thailand, India, the United States and other places.