On December 25, Zhejiang Changhua Auto Parts Co.Ltd(605018) announced that the company’s initial public offering of the raised investment project “automobile stamping and welding parts (Wuhan) production base construction project” has officially entered the production stage, achieved mass production and supply, and achieved the expected goal of putting into operation by the end of 2021.
The announcement shows that the “automobile punching and welding parts (Wuhan) production base construction project” is located in Caidian Economic Development Zone, Wuhan City, Hubei Province, covering an area of 68380 square meters, with a total investment of 388.7 million yuan. On the basis of the original Wuhan manufacturing base of the company, the project has built a 500t-3000t stamping machine group, a full-automatic three-dimensional welding line, a full-automatic three-dimensional chassis assembly line, and an annular automatic electrophoresis line that can meet the surface treatment of large parts. It has realized the full automation and self-made ability of all processes such as material restructuring, stamping, welding, electrophoresis, assembly and on-line detection, And has obtained the customer’s mass production order and began to enter the stage of mass production. The project adopts lean production mode, which greatly improves the production efficiency, reduces the production cost and enhances the competitive advantage of the company’s products.
It is reported that based on the company’s existing customers of GAC Honda and Dongfeng Honda, the products supplied to Anhui Volkswagen, SAIC GM Wuhan base, new forces of automobile and other automobile enterprises will enter trial production or mass production. The company said that with the continuous release of the production capacity of new models of vehicle manufacturers cooperated by the company, the production and sales scale of Wuhan manufacturing base will continue to increase in the future.
It is worth noting that the company’s application for non-public offering of shares was approved by the China Securities Regulatory Commission last month. The total amount of funds to be raised by the company this time does not exceed 760 million yuan for the “construction project of production line with an annual output of 2 billion automotive high-strength fasteners (phase I)” “Production base construction project of automobile stamping and welding parts (Guangqing Industrial Park) (phase I)” and “intelligent production base project of lightweight automobile aluminum parts” will be constructed. At that time, the company will further improve the production capacity planning layout, expand the production capacity of high-strength fasteners, large stamping and welding integrated parts and cast aluminum stamping and welding assemblies, and further increase the proportion of single vehicle value of the company’s products, At the same time, optimize the company’s product structure and expand product sales in the new energy auto parts market.
(Shanghai Securities News · China Securities Network)
