On April 15, gem ushered in Hongxin Technology (stock code: 301539), a leader in the field of forging aluminum alloy wheels. The number of shares to be issued in this public offering is 3.Bestmetaversecryptogames, 7 million shares, all of which are public offerings. The issue price is 10.64 yuan per share, the price-to-earnings ratio is 25.00 times, and the total amount of funds raised is 393.68 million yuan. The funds raised will be used for the sub-project of the annual production of 1 million pieces of high-end forging automobile aluminum alloy wheel intelligent manufacturing plant and R & D center upgrade sub-project.

The successful listing of Hongxin Technology has not only brought more financing channels for the company, but also injected a strong driving force for the future development of the company. With the help of the power of the capital market, Hongxin Science and Technology will further expand the production scale, improve the technological level, optimize the industrial structure, and enhance the core competitiveness. At the same time, the company will actively expand domestic and foreign markets, seek more cooperation opportunities, and achieve a broader space for development.

Forged aluminum alloy wheels as an important part of the automotive industry chain, its market demand continues to grow. With the rapid development of the automobile industry and the improvement of consumers' requirements for automobile quality, forged aluminum alloy wheels have gradually become the darling of the market because of their lightweight, beautiful and generous, strong durability and other advantages. The listing of Hongxin Technology will undoubtedly inject new vitality into the development of China's forged aluminum alloy wheel industry and promote the whole industry to a higher level.

Attach equal importance to domestic and foreign markets, promote vehicle matching and after-sales market at the same time

Hongxin Technology is a high-tech enterprise specializing in the R & D, design, manufacture and sales of automobile forged aluminum alloy wheels.BestmetaversecryptogamesChina's commercial vehicle market has successfully broken the situation of foreign brands' monopoly on forged aluminum alloy wheels. Relying on a series of core technologies with complete intellectual property rights, Hongxin Technology has become one of the industry leaders.

Aluminum alloy wheels have stronger weight reduction effect than steel wheels, and can reduce automobile energy consumption. At present, 90% of the commercial vehicle matching market in China is still made of steel wheels. With the increase of environmental protection pressure of energy saving and emission reduction, the replacement demand of steel wheels for commercial vehicles is more urgent. As for passenger cars, cast aluminum alloy wheels have been widely used, but with the development of electric vehicles, new energy vehicles have higher requirements for battery mileage and instantaneous acceleration ability. it is necessary to further improve its lightweight effect with the help of forged aluminum alloy and other materials.

Hongxin Technology grasps the development opportunity of lightweight automobile and firmly marches into the new energy vehicle and the middle and high-end market. Since 2011, we have continued to carry out lightweight research and development of forged aluminum alloy wheels, and the weight of the products has been reduced by nearly 20%. All aspects of performance indicators have exceeded the expected standards of the projects being studied by listed companies in the same industry, and mass production has been achieved and income has been formed; the independently developed forged aluminum alloy maintenance-free wheels have better mechanical properties than nodular cast iron wheels, and the weight of the products can be reduced by more than 50%. The company's forged aluminum alloy wheels have a strong substitution advantage for commercial vehicle steel wheels, and at the same time, compared with cast aluminum alloy wheels, they are more suitable for the lightweight needs of new energy passenger vehicles.

After years of development, Hongxin Technology has successfully built a comprehensive product line covering nine series and nearly 10,000 kinds of products. In the domestic market, the after-sale field has long been deeply cultivated, and steadily expanded to the complete vehicle supporting market. The products are widely used in the field of fuel commercial vehicles, and at the same time, remarkable progress has been made in the field of passenger vehicles, which has won high recognition in the industry. In the international stage, actively expand overseas markets, product exports have covered the United States, Australia, Canada, Japan and other countries and regions, aluminum wheel export market share continues to maintain a steady growth trend.

In terms of the complete vehicle supporting market, the company has built a long-term and stable cooperation structure with industry leaders such as Homete, BYD and CRRC era. In the field of automotive after-sales service, Hongxin Technology provides professional and reliable after-sales support for Daimler and other world-renowned automakers through WheelPros, and maintains a close partnership with AmericanWheels, Kal Tire, Weds and other brands. These solid cooperative relationships not only highlight Hongxin's outstanding position in the industry, but also inject strong impetus into its sustainable development in the future.

Hongxin Technology is currently committed to establishing closer cooperation with mainstream European commercial vehicle manufacturers and has joined hands in the research and development and sample delivery of forged aluminum wheels for new models. In addition, in order to further improve the capacity layout, the company has established a corresponding production base in Thailand to better meet market demand.

Pay attention to the research and development and application of core technology to enhance the competitiveness of middle and high-end products

With the excellent characteristics of light weight and energy saving of aluminum alloy wheels, the loading rate of aluminum alloy wheels in the automotive industry has exceeded 60%, showing its wide application prospects. China, as the manufacturing center of automobile aluminum alloy wheels in the world, its manufacturing strength has been widely recognized by the international market. According to statistics, in 2022, the export value of China's automobile aluminum alloy wheels reached 4.822 billion US dollars, showing strong international competitiveness.

From the perspective of competition pattern, the production capacity of international aluminum alloy wheels is gradually transferring to developing countries, while Chinese enterprises are gradually enhancing their competitiveness in the international market. Although there are a large number of enterprises in the domestic automobile aluminum alloy wheel industry, the leading enterprises represented by Hongxin Technology still occupy the main market share and lead the development of the whole industry by virtue of its strong technical strength and market influence.

Through years of in-depth research and practice in the field of aluminum alloy wheel forging, Hongxin Technology has successfully implemented the two core strategies of automobile lightweight: process innovation and material upgrading. With profound technology accumulation, the company has mastered the core skills such as mold design, high-speed precision machining and surface de-stress technology, and is widely used in large-scale production, mold design, lightweight and other fields. Compared with the traditional casting process, the aluminum alloy wheel forged by Hongxin technology shows significant performance advantages in terms of lightweight.

In 2022, Hongxin Science and Technology was awarded the title of Zhejiang specialized and New small and medium-sized Enterprises issued by the Department of economy and Information Technology of Zhejiang Province. In 2023, the company has once again obtained the recognition of the new "Little Giant" enterprise of the Ministry of Industry and Information Technology, and has been re-recognized by high-tech enterprises. These honors fully confirm the company's outstanding strength in technological innovation and industrial development. As of June 30, 2023, the company has successfully obtained 44 authorized patents, including 5 invention patents and 31 utility model patents, further highlighting the company's strong technological innovation capability.

At the same time, the company is gradually expanding its high-end product line and plans to develop maintenance-free forged aluminum alloy bearing hub unit products, forged aluminum alloy wheel flange series products, Dually Wheel forged aluminum alloy converter series products, high-end aluminum alloy wheel cover products and oversized (> 28 inch) forged wheels to meet the diversified needs of the market.

Promote the sustainable development of high-end intelligent manufacturing, the market potential is worth looking forward to

At present, in Chinese mainland area, the traditional casting process is mainly used in the field of aluminum alloy wheel manufacturing, but the application of forging process is relatively less, which has an obvious gap with the developed countries in terms of technical level. At the same time, considering that the penetration of China's new energy vehicle market is gradually increasing, 90% of the wheels in the commercial vehicle matching market are still made of steel, which highlights the urgent need for more advanced and lighter wheels. The forged aluminum alloy wheel produced by Hongxin Technology shows a remarkable advantage of lightweight because of its high strength and light weight, which indicates its huge market potential in the future.

In this context, the company always adheres to the core values of "realism, innovation, soundness and development" and closely follows the development trend of new energy vehicles. The company continues to deepen the high-end automobile forging aluminum alloy wheels of new materials, new technology research, as well as new product research and development work, gradually into the high-end market, in order to enrich the product line.

The successful listing of Hongxin Technology indicates that the company will usher in a new stage of development in the field of high-end forged automobile aluminum alloy wheels. The company plans to introduce international leading intelligent manufacturing technology, continuously improve product quality and production efficiency, and accelerate the pace of business development through the upgrading project of the intelligent manufacturing plant and R & D center with an annual production capacity of 1 million pieces of high-end forging aluminum alloy wheels. At the same time, the company is committed to continuous innovation in the field of high-end forged aluminum alloy wheels, striving to become a world-class professional manufacturer of forged aluminum alloy wheels, injecting new vitality into China's automobile industry chain and promoting it to a higher level.

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