Huayu Automotive focuses on three major platforms, earning 7.2 billion yuan; improving product lineup with an annual R&D investment of 6.5 billion yuan.

Yangtze Business Daily report ●Yangtze Business Daily reporter Shenyourong

The operating performance of Huayu Automotive Parts Co., Ltd. (600741.SH) has shifted from decline to growth.

On the evening of March 30, Huayu Automotive disclosed its annual report, which shows that in 2025, the company achieved operating revenue of RMB 183.999 billion, up 8.49% year over year; net profit attributable to shareholders of RMB 7.207 billion, up 7.51% year over year.

In 2024, Huayu Automotive achieved net profit attributable to shareholders of RMB 6.691 billion, down 7.26% year over year.

Yangtze Business Daily reporter found that since 2019, although operating performance has occasionally fluctuated, overall Huayu Automotive’s profitability has been strong.

At the same time, Huayu Automotive has continued to reward shareholders. From 2019 to 2024, the company’s annual cash dividend amount has been above RMB 2 billion each year, and in 2025 the company plans to distribute RMB 3.153 billion in dividends for the full year.

Today, Huayu Automotive has formed a relatively comprehensive domestic and international industrial layout and has the advantages of an industrial cluster. At present, the company has set up 97 production and manufacturing sites (including R&D) across dozens of countries such as the United States and Germany, providing localized R&D and supply services for many domestic and international original equipment vehicle (OE) customers.

As an automotive parts enterprise, Huayu Automotive is aligning with industry development trends, actively advancing industrial transformation and upgrading, and focusing on building three major platforms: intelligent cockpits, intelligent chassis, and intelligent power.

Revenue and profit grow together

Huayu Automotive has delivered a steady annual performance record.

The annual report shows that in 2025, Huayu Automotive achieved operating revenue of RMB 183.999 billion, up 8.49% year over year; net profit attributable to shareholders of RMB 7.207 billion, up 7.51% year over year; and non-recurring items adjusted net profit of RMB 6.387 billion, up 10.67% year over year.

In 2024, Huayu Automotive achieved operating revenue of RMB 168.852 billion, a slight increase of 0.15% year over year; net profit attributable to shareholders of RMB 6.691 billion, down 7.26% year over year.

Compared with 2024, in 2025, both operating revenue and net profit attributable to shareholders show a clearly favorable trend.

Huayu Automotive’s predecessor was Bus Co., Ltd., a company mainly engaged in bus passenger transport, taxi services, car leasing, long-distance passenger transport, and other businesses. It was once Shanghai’s largest public bus and electric tram enterprise. In 2008, the company conducted a major asset restructuring and completed it in 2009; it was then renamed Huayu Automotive, and its main business overall shifted to an independent supplier of automotive parts.

Since its overall transformation, Huayu Automotive’s profits have at one point achieved continuous growth for 10 years.

Wind data shows that from 2009 to 2018, Huayu Automotive’s net profit attributable to shareholders grew from RMB 1.531 billion to RMB 8.027 billion, a cumulative increase of 4.24 times.

Since 2019, Huayu Automotive’s net profit attributable to shareholders has shown fluctuations, which is related to various factors including the market development environment. Even so, the company still has strong profitability.

Data shows that from 2021 to 2024, the company’s operating revenue was RMB 139.944 billion, RMB 158.268 billion, RMB 168.594 billion, and RMB 168.852 billion, respectively, with year-on-year growth of 4.77%, 13.09%, 6.52%, and 0.15%. Among them, the year-on-year growth rates slowed in 2023 and 2024. From 2019 to 2024, Huayu Automotive’s net profit attributable to shareholders was RMB 6.463 billion, RMB 5.403 billion, RMB 6.469 billion, RMB 7.203 billion, RMB 7.214 billion, and RMB 6.704 billion, respectively, all exceeding RMB 5 billion.

In fact, in the 10-year period from 2016 to 2025, Huayu Automotive’s annual net profit attributable to shareholders has been above RMB 5 billion.

Huayu Automotive’s operating cash flow has continued to net inflow. In 2025, the company’s net operating cash flow was RMB 9.523 billion, and in the 10-year period from 2016 to 2025, the company’s net operating cash flow has exceeded RMB 8 billion in each year.

Over the past 10 years, Huayu Automotive’s net profit attributable to shareholders has been above RMB 5 billion, and with cash flow support, to a certain extent it indicates that the company’s business development is healthy.

Speed up transformation and optimize business

Why does Huayu Automotive’s operating performance, overall, show strong resilience?

In 2025, competition in China’s auto market remains intense, and the automotive industry is accelerating toward “intelligence and electrification.” Huayu Automotive proactively responded to multiple challenges brought about by fierce competition, including bidirectional pressure on upstream and downstream industries and rapid shortening of product development iteration cycles. The company deeply tapped the potential of incremental markets, focused on core business transformation and upgrading, continuously strengthened synergy between “system” and “component” resources, and accelerated improvements in system integration capabilities.

Huayu Automotive’s most important response to challenges is to speed up transformation and development, and optimize business adjustments. The company focuses on building three major platforms: intelligent cockpits, intelligent chassis, and intelligent power. While continuously strengthening the intelligent cockpit platform, it targets new tracks, increases new investment, speeds up the construction of an intelligent chassis platform, and improves the product matrix of the intelligent power platform.

In the intelligent cockpit domain, the company’s subsidiaries jointly innovate with Huawei in product development. Graphene-based thermal management, immersive panoramic roof systems, and other solutions obtained business placements for key models from vehicle OEM customers such as Hongmeng Zhixing (HarmonyOS Zhixing) and others. Innovative products such as roll-up starry-sky panoramic roofs, Star-Flash key fobs, and in-vehicle refrigerators have already achieved breakthroughs in first-time supporting. Lighting exterior parts have entered the supporting systems for vehicle OEM customers such as Seres, Mercedes-Benz, and XPeng, among others. In the intelligent chassis domain, the company accelerates the integration of high-quality resources and quickly improves its capabilities in intelligent chassis system integration and “integrated package” development, securing the placement of its first CDC damper supporting project. Projects such as Seres M9 and Li Auto I6, which debuted on the company’s domestically developed platform, have successfully achieved mass production. In the intelligent power domain, the company entered the solid-state battery field for the first time. The company’s globally first batch-production innovative two-in-one product, an electric compression compressor with innovative structure, achieved mass production in key models of Zhiji Auto. Its first 800V high-voltage two-gear integrated e-lock “three-in-one” electric drive assembly product successfully completed project deliveries to vehicle OEM customers such as Dongfeng Motor and BAIC Group.

The above transformation breakthroughs are related to business transformation and R&D innovation. In recent years, Huayu Automotive’s R&D investment has been substantial. From 2022 to 2025, R&D expenditures were RMB 7.161 billion, RMB 7.122 billion, RMB 6.191 billion, and RMB 6.509 billion, respectively.

Huayu Automotive has a group of well-known corporate customers. The company has established long-term cooperation relationships with major domestic OEM enterprises such as SAIC Volkswagen, SAIC-GM, BYD, Seres, Tesla Shanghai, Geely Automobile, FAW Volkswagen, Chery Automobile, and others. The customer resource base is broad and the structure is well developed. The company has also obtained placement for supporting projects with key global customers such as Volkswagen, General Motors, Audi, BMW, Mercedes-Benz, Tesla, and others.

Huayu Automotive states that the company has significant first-mover advantages and综合 advantages of QSTP (quality, service, technology, and price). For more than 10 product categories, including automotive instrument clusters, door panels, and seats, their market shares are all among the top in China.

Editors: ZB

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