万向钱潮股份公司——以精密转动世界，以智能赋予运动
Tides surge, shores widen—achieving new milestones as Wanxiang Precision Engineering secures another landmark breakthrough with the award of an international high-end project.
2022-08-31
Recently, Wanxiang Precision received a designation notice from Company A, a world-class automaker, for a new project, successfully securing a 100% share of a high-end vehicle model under its umbrella. This marks another milestone in Wanxiang Precision’s deep engagement with the international market and its implementation of a high-end brand strategy.
Wanxiang Precision is both a demonstration enterprise for single-item champions in manufacturing and a smart factory in Zhejiang Province. The company’s flagship product—the automotive wheel hub bearing unit—is one of Wanxiang’s signature auto parts. In 2008, it became Wanxiang’s first auto parts product to directly enter V Company’s supply chain. Wanxiang Precision is also the first Chinese domestic bearing enterprise to gain access to V Company’s global automotive supply network.
Wanxiang Jinggong focuses on mainstream high-end customers, leveraging technology to lead the market and fostering core competencies such as product and manufacturing technologies through continuous innovation, thereby ensuring the company’s long-term development. In terms of international project management, the company has cultivated a core team of technical experts who are deeply versed in technology, highly proficient in project execution, and adept at business operations. The company has innovatively established an OEM market development model integrating “General Manager, Technology, and Marketing” into a unified whole, achieving seamless integration across the entire product chain—from commercial aspects and technology to manufacturing.
The company has seized upon two key elements—“digitalization” and “intelligent manufacturing”—to harness digital technologies for value creation and empower manufacturing with intelligence. By launching an intelligent manufacturing system, the company has achieved intelligent, visual, and real-time online monitoring of the manufacturing process, laying a solid foundation for providing specialized and large-scale supporting services to global high-end automotive OEMs. Particularly over the past two years, despite the impact of the global pandemic, the company has steadfastly implemented its internationalization strategy, targeting world-class customers and building an internationally leading “future factory” for automotive components. The company is focusing on developing “lighthouse factories” across five key application scenarios: digital design, intelligent production, high-end products, green manufacturing, and lean management. This approach enables highly efficient collaboration across all links of the entire value chain—from customer engagement and R&D to production, logistics, quality assurance, and supply chain management—further enhancing the company’s core competitiveness.
By adhering to the principles of keeping pace with the times and promoting innovative development, the company has continuously achieved breakthroughs in the international high-end market: In October 2019, it secured the designation for the Mid-D face-gear hub unit project from Germany’s Company M; in March 2021, it passed the customer audit and officially joined the supplier system of another high-end German client, Company Z, receiving formal designation at the beginning of 2022; and in the first half of this year, it won the designation for a project from Japan’s Company B... To realize its strategic goal of becoming a strategic partner to the world’s top automakers and its vision of "global manufacturing, global markets, and leading the industry," the company has taken one solid step after another toward achieving a domestic market share exceeding 30%, an international market share reaching 10%, and ranking fifth globally in the hub unit market.
Management drives efficiency, and innovation yields results. In July just past, Wanxiang Precision’s revenue and profit both grew by more than 50% year-on-year. The recent award of a designated supplier status from Company A has further inspired all employees of Wanxiang Precision to keep forging ahead in the fiercely competitive global market for high-end brands—and to continue striving for even greater achievements!
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