With the establishment of the Tesla Gigafactory in Shanghai and the gradual expansion of production capacity, the performance of the NBXS auto parts company that directly supplies Tesla auto parts has ushered in rapid growth.
On August 4, NBXS announced that in the first half of the year, the company’s sales to Tesla were 326 million yuan, accounting for nearly half of the company’s revenue, a year-on-year increase of 25.14%. The company's total revenue and net profit subsequently increased by 32.06% and 65.97%.
NBXS's leading products include precision machining parts for core systems such as new energy vehicle transmission systems, transmission systems, battery systems, and suspension systems. In 2013, NBXS began to cooperate with Tesla and successfully entered Tesla's supply chain. The revenue of automotive products grew rapidly.
The cooperation with Tesla has improved the company's new energy auto parts technology. Since then, NBXS has also developed BMW, CATL, Weilai and other well-known car company customers.
At the same time, NBXS is following the trend of automotive lightweighting and plans to raise more than 1 billion yuan to expand the production capacity of high-end aluminum alloy castings and forgings to meet the demand for all-aluminum design models of Tesla and other auto companies to seize the high-end aluminum alloy castings and forgings market.
In the first half of the year, with the mass production of Model 3 at Tesla's Shanghai plant and Model Y at the US plant, NBXS supplied multiple battery pack components from Tesla's Shanghai plant to achieve mass production, and supplied multiple specialized components for Model Y to achieve mass production. NBXS sold 326 million yuan to Tesla, a year-on-year increase of 25.14%, accounting for 49.27% of total revenue.
NBXS is one of the earliest companies in China to develop aluminum parts for new energy vehicles. It began to cooperate with Tesla in 2013 and successfully entered Tesla's supply chain. In 2014, we fully cooperated with Tesla, starting from the supply of individual parts, fully developing to supplying core system components such as transmission system, suspension system, battery system, and further assembling the parts into assembly components such as oil pumps. One of the company's top ten global suppliers.
Tesla has always been the largest customer of NBXS. From 2017 to 2019, the sales revenue of NBXS to Tesla was 414 million yuan, 669 million yuan, and 589 million yuan, respectively, accounting for 56.46% of the main business revenue. , 61.51%, 54.08%.
According to Tesla’s official sales data, Tesla’s semi-annual global deliveries were 179,000 vehicles, of which Tesla’s Shanghai factory delivered 45,754 vehicles. Tesla plans to sell 500,000 vehicles by 2020. The cooperation with Tesla will lay a good foundation for the company to develop the new energy vehicle market.
NBXS has also been opening up new customers, deploying key customers and setting up subsidiaries in the three major regions of "North America, Europe, and Asia Pacific". Currently, the company cooperates with Polaris, ZF, BMW, CATL, GAC, France Leo-Siemens and other well-known domestic and foreign manufacturers.
In the first half of this year, NBXS sold 48,698,300 yuan to ZF, an increase of 186.38% year-on-year, and its proportion of operating income increased to 7.33%. Sales increased rapidly; in addition, the company's sales to Polaris, Magneti Marelli, Eaton, CATL and other customers increased steadily.
Planning to expand production to meet the needs of automotive lightweight
NBXS is mainly engaged in the research and development, production and sales of die-casting precision aluminum alloy auto parts and industrial parts. The company is mainly engaged in the field of new energy vehicles and lightweight vehicles. Its leading products are new energy vehicle transmission systems, transmission systems, and battery systems , Suspension system and other core system precision machining parts.
Since the cooperation with Tesla in 2013, the company's automotive product revenue has grown rapidly. The revenue of this business in 2013 was only 24 million yuan, reached 388 million yuan in 2016, and increased to 907 million yuan in 2019. This year, due to the expansion of Tesla's mass production, the company's automotive products once again ushered in high growth.
Based on the needs of environmental protection and energy saving, lightweight has become an important trend in global automobile development. In the past, aluminum alloy parts were mainly used for functional parts such as engines and gearboxes. With the further improvement of the demand for lightweight, aluminum parts can be used in all aspects of automobiles, including body, engine housing, chassis, and battery pack For the shell, the current Tesla ModelS and other models have adopted all-aluminum design.
In order to comply with the trend of automotive lightweighting, NBXS announced in April this year that it will raise 1.2 billion yuan (actually raised 1.048 billion yuan) for the new energy vehicle precision casting and forging project (phase two) and the automotive lightweight parts manufacturing project. The annual production capacity of 6.85 million pieces of new energy automobile precision castings and forging products can meet the processing needs of 7.2 million pieces of lightweight automotive parts products.
The above-mentioned fund-raising projects will further enhance the company's supply capacity in casting and forging products. The forgings produced by the fund-raising will be mainly used for automobile suspension systems, so that the company has the ability to supply large-scale, high-quality aluminum alloy forgings, and is also beneficial The company's seizure of the high-end castings and forgings market will, to a certain extent, break the monopoly of a few foreign manufacturers such as Kobe Steel in Japan and Hirschvogel in Germany.