Waffer Technology, a leading automotive casing manufacturer, announces a monthly revenue of 500 million yuan for November, showing a modest 5.89% decline from the previous month but a robust 25.72% increase compared to the same period last year. The company’s cumulative revenue for the first 11 months of the year reaches 5.258 billion yuan, reflecting an impressive 41.28% YoY growth.
Gan Jintian, General Manager of Waffer Technology, attributes this positive performance to the sustained expansion of the new energy vehicle market. He highlights an increase in demand from both new and existing customers, emphasizing the company’s commitment to developing relationships in the European and American markets, which contribute significantly to its overall revenue. Looking ahead, Waffer Technology aims to further strengthen its position in the Asian market, aligning with the region’s growing automotive sector.
The electric vehicle market, particularly the smart cockpit components segment, is experiencing rapid growth, with a focus on lightweight design, large sizes, and technological innovation. Waffer Technology, with its in-vehicle products accounting for approximately 10% to 15% of the global market share, sees ample opportunities for expansion. The company is particularly optimistic about the profitability of large-sized mechanical components, given their high technical threshold. Additionally, the production of aluminum-magnesium alloy, known for its lightweight benefits, presents another avenue for growth in line with electric vehicle specifications.
To meet the escalating demand and mitigate production concentration risk, Waffer Technology has strategically expanded its production capacity in recent years. In addition to existing facilities such as the Ma’anshan factory and the Hanshan factory, the Huazhong Dangcoating Factory is set to commence mass production in the fourth quarter of the coming year. Moreover, the company plans to establish a new factory in Vietnam, enhancing its ability to meet diverse customer needs and ensuring a more distributed production network.
