Chinese auto parts supplier Tuopu gains 76.05% YoY leap in 2021 revenue

Shanghai (Gasgoo)- Chinese auto parts supplier Ningbo Tuopu Group (“Tuopu”) saw its annual revenue in 2021 leap 76.05% year on year to 11.463 billion yuan ($1.802 billion), according to the company's annual results.

Photo credit: Tuopu Group

Tuopu also announced its full-year net profit attributable to shareholders amounted to around 1.017 billion yuan ($159.946 million), jumping 61.93% from a year earlier. Excluding the impact of certain non-recurring gains and losses, the yearly net profit still rose 68.89% year over year to 970.594 million yuan ($152.609 million).

Besides, the company said its net cash flow generated by operating activities was 1.187 billion yuan ($186.607 million) in 2021, climbing 5.62% over the previous year. The yearly basic earnings per share stood at 0.93 yuan ($0.15), versus the 0.6 yuan ($0.094) in 2020.

Tuopu said the revenue growth should owe to the company's extensive product lines, systematic R&D capability, and innovative business models in the new energy vehicle industry. By product segments, the annual revenue of the damper, interior functional parts, chassis system, and automotive electronics, and thermal management system units reached 3.347 billion yuan ($526.278 million), 3.578 billion yuan ($562.628 million), 2.624 billion yuan ($412.603 million), 182.721 million yuan ($28.73 million), and 1.285 billion yuan ($201.993 million) respectively, all recording a growth compared to the previous year.