Wanxiang Jinggong is a national-level demonstration enterprise for specialized manufacturing champions and a smart factory in Zhejiang Province. Its flagship product is the automotive wheel hub bearing unit. In 2008, Wanxiang Jinggong became the first Chinese supplier to directly enter V Company’s supply chain for automotive components. As a result, Wanxiang Jinggong also became the first Chinese domestic bearing enterprise to join V Company’s global automotive parts supply network. The company’s products have now fully entered the supply chains of both domestic and international mid-to-high-end vehicle manufacturers, making it a strategic partner and supplier to leading global automakers. In recent years, the company has been vigorously promoting the construction of its market system according to high standards, steadily implementing its “Five Major Strategies”—the mid-to-high-end brand strategy, the deep-cooperation strategy, the new-energy market strategy, the internationalization strategy, and the new-product strategy—thus composing a new chapter of high-quality development.

Targeting the mid-to-high-end market, Wanxiang Precision has adopted a strategy of simultaneous development, overseas technical support, enhanced standards, smart production lines, and post-sales traceability measures, continuously breaking through in the “9+N” mid-to-high-end brand portfolio. Recently, the company has seen significant growth in both the new energy market and the global market, securing fixed orders from BC Company for MMA drives—both driven and non-driven applications—as well as fixed positions on W Company’s MEB platform for front and rear wheels, D Company’s DB2 for front-wheel applications, and B Company’s NCAR platform project.

In terms of deepened strategic cooperation, the company has set a target of capturing over 30% market share among its existing customers in the “9+N” market. Specifically, we are focusing our efforts on three high-potential, rapidly growing customer projects, significantly increasing investment in their development and alignment. Additionally, four other customers continue to maintain a supply share exceeding 90%, while seven more customers are given priority consideration for global platform projects, with a focus on continuously following up on their top-quality initiatives.

In terms of developing the new energy market, the company is closely following the pace of traditional automakers, staying attuned to industry trends, and actively cooperating to advance projects related to electrification. Additionally, leveraging its strengths in intelligent manufacturing, product development, and validation resources, as well as the support from Wanxiang USA, the company will break into key customer T Company.

In terms of its internationalization strategy, the company actively expands its overseas market business through Wanxiang USA and the International Business Department of Wanxiang Qianchao. By leveraging the global models of its existing joint-venture brands, it promotes the global rollout of common parts. Going forward, the company will also establish local technical centers and production lines in coordination with the headquarters and R&D centers of its core automotive OEMs. Specifically targeting strategic partners—high-quality automakers—the company will build rapid-response production workshops to meet the growing demands of its key customers.

In terms of its new product strategy, the company’s tapered unit achieved sales of 65 million yuan last year and is expected to reach 100 million yuan in sales this year. The company will continue to focus on developing light commercial vehicle projects such as those from JF and J companies, as well as pickup truck projects from B and C companies. Based on this comprehensive market strategy, the company plans to attain a domestic market share exceeding 30% and an international market share of 10% by 2025, placing it fifth globally in the wheel hub unit market. In addition to its robust market strategy, Wanxiang Precision also leverages technology to lead the market, fostering core competencies such as innovative product and manufacturing technologies, thereby ensuring the company’s long-term growth. In terms of international project management, the company has cultivated a core team of technical experts who are deeply knowledgeable about technology, proficient in project execution, and highly skilled in business operations. The company has innovatively established a “General Manager + Technology + Market” integrated model for market development, achieving seamless integration across the entire product chain—from business and technology to manufacturing—and helping the company take one solid step after another forward.

To achieve the strategic goal of becoming a top global automotive manufacturer’s strategic partner and the vision of “global manufacturing, global markets, and leading the industry,” Wanxiang Precision will continue to deepen its presence in international markets, keep pace with the times, and foster innovative development, ensuring that “Made in China” shines brightly as a stellar brand in the global components sector.