HASCO sees increase in net profit in 2021, Q1 2022

Gabriella From Gasgoo|May 5 , 2022 17:55 BJT

SAIC Motor-backed auto parts supplier HUAYU Automotive Systems Company (HASCO) reported annual revenue of RMB139.944 billion ($21.17 billion) in 2021, up 4.8% year over year.

SAIC Motor

BrandsAUDI, Baojun, Baojun (Diamond), Buick, Cadillac, Chevrolet, IM, Maxus, MG, RISING, Roewe, Skoda, Volkswagen, VW ID, Wuling, Wuling (Global Silver Logo)

HASCO

Main productsIntelligent Driving Advanced Driver Assistance Systems (ADAS): LiDAR, camera, ADAS domain controller, forward millimeter-wave radar Intelligent Lighting: vehicle lighting (headlights + taillights), headlamp, taillamp, lighting domain controller, digital lighting system Intelligent Chassis: chassis electronic module, rear subframe module, suspension module, front subframe module, electric power braking system, electric vacuum pump, brake hose, electric parking brake system, vacuum booster, intermediate drive shaft, ECU four-wheel drive control unit, torque manager, rear axle final drive unit, transfer case, constant velocity joint drive shaft, differential, output shaft, intermediate shaft, electrically adjustable steering column, front/rear brake caliper Intelligent Cockpit Interior System: cockpit and instrument panel, door panel, center console, overhead console, hard trim Intelligent Safety: steering wheel, airbag, seat belt, safety system integration Cockpit Electronics: infotainment system, cockpit domain controller, in-vehicle display system, cockpit electronic connection system Seating System: complete seat, seat cover, seat foam, headrest, armrest, seat frame, mechanical components - slide rail, mechanical components - recliner, mechanical components - adjuster, mechanical components - locking mechanism, mechanical components - motor Exterior and Body Bumper Tailgate Liftgate Grille Wheel cover Front-end structure Rockers Adaptive cruise control cover Body accessories Power battery case: battery case tray assembly, battery case upper cover, integrated water-cooled housing, water-cooling plate Cell structural components Active grille shutter Front-end carrier Fender flare Aluminum body components: four doors and two hoods, aluminum wheel housing, front compartment, front/rear floor, aluminum battery case bracket, front/rear longitudinal beam, main body structural components Intelligent Powertrain Electric Drive System: generator, main drive motor, auxiliary drive motor, permanent magnet synchronous motor, asynchronous motor, motor controller Thermal Management System: refrigerant circuit/water circuit integrated module, thermal management controller, heat pump controller, condenser, evaporator, battery cooler, blower, electric auxiliary heater Air Conditioning System Electric Compressor: mechanical scroll mechanism, inverter controller Electric Pump: electric oil pump, electric water pump, electric vacuum pump Conventional Powertrain Components: cylinder head, high-pressure aluminum cylinder block, piston, transmission housing, dry/wet clutch module, torque converter, bearing cap, crankshaft, balance shaft, engine bearing, bushing, thrust washer 48V Hybrid System Fuel Tank System Energy Storage System Exhaust System: exhaust heat recovery system (EHRS), electric heater carrier technology (E-Heater), cold start thermal unit (CSTU), turbo bypass emission control technology (Turbo Bypass)

Beijing (Gasgoo)- SAIC Motor-backed auto parts supplier HUAYU Automotive Systems Company (HASCO) reported annual revenue of RMB139.944 billion ($21.17 billion) in 2021, up 4.8% year over year.

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Photo credit: HASCO

In the past year, the company’s net profit attributable to shareholders amounted to RMB6.469 billion ($978.49 million), increasing 19.7% from a year ago.

Notably, with SAIC Motor holding 58.32% of its stake, HASCO has been striving to expand its clientele to other automakers. In 2021, the company managed to earn 49.2% of its main business income from automakers aside from SAIC Motor.

Specifically, in 2021, HASCO supplied interior accessories, air bags, brake calipers, and others to Mercedes Benz, BMW, and Audi, realizing global sales value of over RMB30 billion ($45.38 billion). Moreover, the company's products have also been deployed to new energy vehicles from Tesla, BYD, NIO, XPeng, and Li Auto, bringing in more than RMB12 billion ($1.82 billion) of sales domestically.

On the other hand, in the first quarter of 2022, HASCO reported a quarterly revenue of RMB24.92 billion ($3.77 billion), climbing up 7.15% year over year. Its net profit attributable to shareholders equaled RMB1.707 billion ($258.2 million), indicating a 32.13% jump from the year-ago period.

With all factors considered, HASCO set a yearly revenue target of RMB154 billion ($23.29 billion), with an operating cost no more than RMB132 billion ($19.97 billion) in 2022.

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Location: China/Shanghai/Shanghai/Pudong New Area

BrandsAUDI, Baojun, Baojun (Diamond), Buick, Cadillac, Chevrolet, IM, Maxus, MG, RISING, Roewe, Skoda, Volkswagen, VW ID, Wuling, Wuling (Global Silver Logo)

ModelsMidsize SUV, Compact SUV, Compact SUV, Midsize SUV, i6/i6 MAX, LS8, HS/Pilot, Electra E5, Enclave, Fullsize SUV, Encore, Encore GX/Encore Plus, Envision, Excelle, Excelle GT, GL6, GL8, GL8 ES/ Avenir, Century, Lacrosse, Electra E4, Regal, Velite 6, Velite 7, Verano, Envista, Large EV Car, OPTIQ, CT4, CT5, CT6, Large EV SUV, LYRIQ, GT4, XT4, XT5, XT6, Fullsize SUV, Blazer, Cavalier, Seeker, Equinox, Malibu XL, Menlo, Fullsize EV SUV, Monza, Orlando, Sail 3, Tracker, Trailblazer, Chevrolet, D60, D90, Lingdi, G70, G90, G10, G20, G50, L7, L6, LS6, LS9, LS7, i6/i6 MAX, iMAX8, MARVEL R, MG4, Compact Car, RC7, R7, F7, Compact Car, Midsize SUV, MG7, Cyberster, MG ONE, MG3, MG5, MG6, ZS, Clever, D5X, D7, D6, i5, Ei5, RX3, Lomemo, RX5 MAX, RX5/RX5 PLUS, RX8, RX9, Whale, 510, 530, 630, 730, E100, E200, E300, RC-5, RS-3, RS-5, RS-7, Valli, Yangguang, Hongguang MINIEV, Hongguang PLUS, Hongguang S, Hongguang S3, Hongguang V, Rongguang, Sunshine, Zhengcheng, Jiachen, Hongguang MINIEV, Nano, Xingguang s, Air ev, Binguo, Yep, Yun Duo, Medium-sized pure electric sedan, Midsize SUV BEV, Yunhai, Large SUV, Huajing S, Xingyun, Xingguang, Xingchi, Victory, Asta, Spark, Aveo, Kamiq/Kamiq GT, Karoq, Kodiaq, Octavia, Rapid, Superb, A7L, Midsize SUV, Q6 E-tron, Q5 e-tron, A5, Q6, Lamando, Lavida, Lavida XR, Passat, Phideon, Polo, Santana, T-Cross, Teramont, Teramont X, Tharu, Tiguan L, Tiguan X, Touran L, Viloran, ID.7 S, ID.3, Guanghe 4 X, ID.6 X, Excelle GX, XTS, Cruze, Malibu, Feifan R, GS, MARVEL X, 360, Whale, 310, 560, 310W, 360, RC-6, RM-5, Yangguang, e-Lavida, Touran, GL8 ES/ Avenir, Velite 7View more

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Location: China/Shanghai/Shanghai/Jing'an District

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