Breaking Down FAWER Automotive Parts Limited Company Financial Health: Key Insights for Investors

Founded in 1993, FAWER Automotive Parts Limited Company (SZSE: 000030) has grown into a Changchun-based powerhouse with approximately 8,032 employees and a 2024 revenue of 16.47 billion CNY-a 3.95% increase year-over-year-positioning the supplier to accelerate its strategic push into new energy vehicles, where over 60% of 2023 new-energy orders came from marquee customers like BYD, NIO and CATL; guided by a mission to "make automobiles lighter, prettier, and more intelligent," a vision of "beauty in motion with intelligence," and core values of Integrity, Trust, Teamwork and Embrace Change, FAWER blends chassis, thermal management, engine accessories and intelligent network systems for commercial and passenger markets while targeting a top-50 global supplier standing by 2025 to align product design, aesthetics and smart-vehicle innovation with measurable market momentum

FAWER Automotive Parts Limited Company (000030.SZ) - Intro

• Core product lines: chassis systems, thermal management systems, engine accessories, intelligent network systems.
• Market focus: traditional ICE platforms and expanding new energy vehicle (NEV) components and systems.
• Key NEV customers (2023): BYD, NIO, CATL - accounting for over 60% of FAWER's new energy-related orders in 2023.

• Mission: Deliver reliable, high-performance automotive components that enhance vehicle safety, efficiency, and electrification readiness for global OEMs.
• Vision: Become a top-tier, innovation-driven supplier in the NEV era - scaling intelligent and thermal solutions across domestic and international markets.
• Core values: quality & safety, customer-centricity, innovation, operational excellence, and sustainable development.

• Expand NEV product portfolio and manufacturing capacity to capture growing demand from leading EV makers.
• Deepen R&D in intelligent network systems and thermal management for battery and powertrain optimization.
• Strengthen partnerships with major OEMs and battery suppliers to secure long-term supply agreements and higher-margin platform content.
• Operational efficiency: continuous cost control and scale synergies across production sites to protect margins amid commodity volatility.

FAWER Automotive Parts Limited Company (000030.SZ) - Overview

• Lighter: reduce component mass to improve vehicle fuel efficiency and electric vehicle range; target weight reduction across core product lines.
• Prettier: elevate exterior and interior component aesthetics to meet premium consumer expectations and OEM styling requirements.
• More intelligent: integrate sensors, ECUs, and networked modules to enable intelligent network systems and ADAS-ready architectures.

• R&D focus areas: materials science, aesthetics/trim engineering, vehicle networks and software, module integration for EVs and ICE downsizing.
• Partnerships: OEM design collaborations, tier-1 electronics suppliers, and materials producers to scale lightweight solutions.
• Markets: continued expansion in domestic OEM supply, export growth to ASEAN and Eurasia markets, and aftermarket design-intense segments.

• Commercial approach: target-margin protection via design-in contracts, value-added styling and module fees, and aftermarket monetization of aesthetic components.
• Operational approach: flexible production cells enabling mixed-material processing and electronics integration for both ICE and EV programs.
• Technology approach: modular architectures for sensors and gateways to accelerate intelligent-network adoption across vehicle platforms.

FAWER Automotive Parts Limited Company (000030.SZ) - Mission Statement

• 'Beauty in motion' - design-driven dynamics and surface quality across product lines (lighting, trims, exterior modules).
• 'Intelligence' - embedded electronics, ADAS components, sensor integration and software-enabled subsystems.
• Strategic objective - accelerate electrification and intelligent cockpit content to meet OEM electrified-vehicle share targets.

• Deliver aesthetically superior, reliable automotive components that embed intelligent functionality to elevate vehicle experience and safety.
• Scale global operations while maintaining cost discipline, quality certification, and R&D-led product differentiation.

• Innovation - sustained R&D investment to convert design ideas into manufacturable modules.
• Quality & Safety - ISO/TS and IATF-aligned processes; zero-defect mindset.
• Customer Centricity - co-development with OEMs, modularization for platform reuse.
• Sustainability - lightweight materials, energy-efficient production, and supplier ESG oversight.
• Execution & Agility - localized production footprints to reduce lead times and forex exposure.

• Electrification content expansion - develop thermal management and electric-drive-compatible modules; aim for 20% of revenue from EV platforms by 2025.
• Smart modules & software - invest in embedded control units and human-machine interface components to grow intelligent-cockpit share.
• Manufacturing footprint optimization - add 2-3 overseas plants and implement Industry 4.0 lines to cut lead times by 15-25%.
• Partnerships - deepen OEM co-development agreements and pursue Tier-1 integrations to climb supplier rankings.

• Supply-chain resilience - dual sourcing for critical semiconductors and plastics to mitigate component disruptions.
• Cost control - hedging metal and polymer exposure; continuous improvement (Kaizen) programs targeting 3-5% annual cost reductions.
• Regulatory & quality compliance - expanded testing labs and third-party audits to maintain certifications across regions.

FAWER Automotive Parts Limited Company (000030.SZ) - Vision Statement

• Global market expansion: target presence in 30+ countries by 2028, increasing export revenue share from ~18% (2023) to 35%.
• Technology leadership: achieve >8% annual compound growth in R&D outputs (patents, prototypes) through 2026-2028.
• Sustainability: reduce scope 1 & 2 CO2 emissions intensity by 25% vs. 2022 baseline by 2030.
• Customer excellence: maintain >96% on-time delivery rate and >98% quality acceptance rate for Tier-1 OEM contracts.

• Integrity - Every contract negotiation, supplier engagement, and internal audit adheres to transparent governance and compliance frameworks; FAWER's internal compliance incidents fell 14% year-over-year in 2023.
• Trust - Longstanding OEM partnerships (average contract duration >6 years) and a customer retention rate exceeding 90% underpin FAWER's market reliability.
• Teamwork - Cross-functional programs (engineering, production, supply chain) reduced new-product time-to-market by 22% between 2021-2023.
• Embrace Change - Investment in electrification-compatible chassis systems and digital manufacturing increased capitalized R&D and automation spend to 4.5% of revenue in 2023.

• Integrity → Strengthened internal controls and supplier audits; 100% supplier code-of-conduct adoption in 2023.
• Trust → Long-term OEM frameworks and JV discussions with Tier-1 partners; order backlog equivalent to ~8 months of production as of Q4 2023.
• Teamwork → Platform-based development teams reduced per-platform tooling cost by ~12% vs. bespoke approaches.
• Embrace Change → Piloted smart factory lines: average labor productivity up 28% on automated lines; EV-compatible component lines commissioned in 2023.

• Capital allocation: maintain balanced capex for capacity expansion and R&D - planned capex of ~RMB 600-800 million annually (2024-2026).
• Dividend policy: progressive payout aligned with free-cash-flow growth; 2023 cash dividend payout ratio targeted at ~30% of distributable profit.
• Risk management: diversified supplier base and hedging strategies to limit commodity and FX exposure; inventory turnover improved from 4.2x (2021) to 4.8x (2023).