?

Jinfei Kaida Invested in The Construction of Lightweight Aluminum Alloy Auto Rim Project

On 25th, April, Jinfei Kaida signed the agreement with management committee of Jinhua Economic and Technological Development Zone, planning to invest in the local construction of smart manufacturing project of lightweight aluminium alloy auto rim with the annual production of 3 million pieces. The total investment is RMB 740 million and after the construction is finished and the design capacity is reached, newly added annual sales revenue can exceed RMB 700 million.

The project consists of two phases. Phase one, the investment is RMB 260 million and the construction cycle is Dec., 2018 to Oct., 2020. The main objective of Phase one is to realize an annual capacity of 1 million lightweight aluminium alloy auto rims, to newly construct 86416-sq-meter production house and 8590-sq-meter accessory building; phase two, the investment is RMB 360 million and the construction cycle is Oct., 2020 to Oct., 2022 and the main objective of phase two is to realize an annual capacity of 2 million lightweight aluminium alloy auto rims.

Jinfei Kaida is one of the large domestic aluminium alloy wheel production and export companies, whose aluminium alloy wheels are applied to transportation tools like auto and motorcycles, among which, auto wheel business contribute to 60% of total revenue. Considering there is an increasing trend of lightweight and energy-saving development, aluminium alloy wheel assembly rate will go up and the company’s auto wheel sales will also be likely to rise.