On October 28th, WXBS Precision Technology Group, a leading manufacturer of precision parts and fixtures in China, issued an announcement:
The company will invest 1.6 billion yuan to build a magnesium alloy and aluminum alloy precision parts research and development center and manufacturing base.
WXBS is mainly engaged in auto parts, intelligent equipment and precision tooling, and aircraft cabin parts products. Among them, the products of the auto parts business segment cover turbocharger precision bearing parts, turbocharger impellers, and turbochargers Intermediate housing, turbocharger compressor housing, engine block and other fuel-fueled automotive parts, hydrogen fuel electric turbo compressor housing, hydrogen fuel electric compressor full milling impeller, bearing caps and functional parts and other new energy automotive parts .
From 2017 to 2019 and the first half of this year, the proportion of auto parts revenue in WXBS's total revenue was 72.88%, 78.19%, 80.66%, and 86%, respectively.
The newly invested projects will be used to build an annual output of 17 million new energy vehicle functional parts and turbocharger parts R&D center and production line construction projects, and to supplement working capital. WXBS said that the fundraising project can further enrich the company's product structure in the field of new energy auto parts, conform to the development trend of the industry, and enhance the company's competitiveness in the new energy auto industry chain.
The newly added new energy vehicle functional component production capacity includes lightweight structural parts-on-board charger components, lightweight structural parts-DC converter components, steering knuckles, and hydrogen fuel cell housings. WXBS stated that the company is vigorously introducing excellent technology and marketing talents in the field of new energy vehicles, getting involved in the research, development, and trial production of some core components in the new energy vehicle industry chain, and diversifying the field of new energy vehicles.
Through the acquisition of JSYT Lightweight Technology Co., Ltd., WXBS quickly deployed the R&D, production and sales of lightweight products such as on-board charging modules for new energy vehicles to directly enter the field of new energy vehicles. In 2019, WXBS acquired 51% of SZHB Light Alloy Technology Company. SZHB mainly produces aluminum and magnesium alloy precision die-casting parts and accessories. It is Tesla Inc., auto parts manufacturer Japan YAZAKI Company, and car safety system manufacturer Sweden The long-term supplier of spare parts for AUTOLIV, BROOKS Instruments, EMI and other companies. This acquisition allows WXBS to quickly enter the Tesla supply chain system.
WXBS formally obtained the Tesla supplier code in February 2020, and signed the corresponding "Auto Parts Product and Service Framework Contract" with Tesla; in addition, WXBS passed Bosch China's on-site hydrogen fuel cell auto parts Audit and officially obtain the supplier code. At the same time, WXBS has also actively invested in energy-saving and emission-reduction projects such as hydrogen compression pump projects and electronic cooling pumps jointly developed with customers.
Precision Manufacturing capabilities
WXBS has provided tens of millions of various precision parts for the automobile, communications, pneumatic tools, air conditioning and refrigeration, medical equipment and other industries for more than 20 years. Its excellent quality and active and timely supply capabilities have won domestic and foreign customers Unanimously praised, the company has imported hundreds of CNC comprehensive processing equipment from Germany, Japan and other places, and can quickly deliver samples to customers and meet their small batch orders
+ Comprehensive quality advance planning and project management capabilities (APQP) led by an experienced engineering and technical team.
+ The world-renowned testing instruments enable us to have complete inspection methods.
+ Own non-ferrous precision die-casting and comprehensive supporting capabilities of various raw materials in the strategic alliance system.
+ Comprehensive manufacturing capacity from Φ1mm～Φ540mm turning parts to large parts ≤4000x2000x1000mm.
+ Turning manufacturing-mass production capacity of micron tolerance parts.
+ Rich experience in machining difficult-to-cut materials (such as nickel-based alloys, titanium alloys).
+ Pass a number of quality assurance systems.
+ Leading domestic fixture design and manufacturing capabilities.
Customer reference
In terms of turbocharger parts, the company has established a long-term and stable cooperative relationship with the world's top two turbocharger manufacturers Garrett and Cummins. The company's lightweight structural parts have intended customers and reserve orders, and the downstream intended customers of hydrogen fuel cell auto parts include Garrett, Hydwell, and Bosch China;
Customers of precision aluminum alloy die castings include: Bosch, Tesla, YAZAKI, AUTOLIV, BROOKS..