On September 21, Wanfeng Aowei (002085.SZ) issued an announcement saying that the company newly invested in Wanfeng, India, with an annual output of 3 million sets of aluminum alloy wheel projects. The ferris wheel increased its capital in India Wanfeng by USD 15.84 million (equivalent to RMB 108.5 million) and USD 160,000 (equivalent to RMB 1.1 million), and the remaining funds were self-raised by India Fengfeng.
The announcement shows that India Wanfeng's annual output of 3 million sets of aluminum alloy wheels will be constructed for 15 months. After the project is completed, it is expected to realize annual sales income of 410,058,800 yuan (including tax) and a net profit of 27,319,400 yuan.
Wanfeng Aowei said that the Indian market is the most important export market for the company's motorcycle aluminum alloy wheels. Local major customers such as India's Honda, Hero Motors, India's Yamaha, Allegator and TVS have developed well in recent years. The company's current production capacity has Can not meet customer needs, the implementation of this project can further enhance the strategic cooperation relationship with the OEM.