Wanxiang Qianchao Presents New Invention at Auto Parts Expo According to BAC Report
02 Dec 2011 • by Natalie Aster
LONDON – September 8 saw a fifth China international Auto Parts Expo held in Beijing. The exhibition was organized by Chinese Ministry of Commerce, and attended by the International Society of Automotive Engineers, the American Automobile Association, and other auto parts suppliers. Innovative automotive parts, new R&D ideas, alternative energy vehicles, and modified cars were presented at the Chinese capital event.
Large competitors like Bosch, Denso, Continental, Delphi and others attended the exhibition. Three major new products were introduced – multi-link Linear suspension, electronic traction cables parking brake, and magneto-rheological fluid shock. Among these, multi-link Linear suspension is Wanxiang Qianchao’s invention that significantly improves road traction comparing to current suspension technology.
Wanxiang Qianchao is a successful Chinese auto parts manufacturer with 17 years of experience. Its latest financial performance is stable, while annual results reveal a strong growth trend. Q3 2011 showed a mild decline in main indices, however, the 2011 prognosis is positive. In 2010 revenue and net income increased by 40.4% and 60% respectively, and amounted to CNY 7819.7 M and CNY 425.8 M. This outcome is not occasional – Wanxiang Qianchao has been intensively expanding its auto part business in the last years. 2011 shows two more collaboration agreements with related companies and an establishment of a new wholly-owned subsidiary engaged in manufacture of auto parts. The company shows its competitive force and operated according to its middle-term strategic plan.
Founded in 1994 and headquartered in Xiaoshan, Hangzhou (China), Wanxiang Qianchao engages in development, manufacture and distribution of automobile parts. Main sales market is China, thought the company exports to several other countries. Since its foundation the enterprise has been trading at Shenzhen stock exchange under the ticker 000559.
Other information on the company’s business, products, financials and experts’ forecasts can be found in the report “Wanxiang Qianchao Co., Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Wanxiang Qianchao Co., Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Nov, 2011
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