Honghua Advanced is listed on the market today and will launch Model D new electric vehicle next year | Industry Hotspots | Industry

Honghua Advanced Technology (2258), a subsidiary of Hon Hai Technology Group, is officially listed on the New Board today! The listing ceremony and opening ceremony were held at the Stock Exchange Information Display Center. Looking forward to the future, Honghua Advanced will rely on the speed and capabilities of Hon Hai (2317) ICT and BOL’s global layout, as well as Yulon’s vehicle manufacturing experience, to provide global electric vehicle customers with the most flexible and customized CDMS (Contract design and manufacturing service) , commissioned design and manufacturing services) business model services! Create more value for Taiwan’s electric vehicle industry!

At this Honghua Advanced listing ceremony, Hon Hai Technology Group and Honghua Advanced Chairman Liu Yangwei, Group Chief Financial Officer Huang Qiulian, Vice Chairman Zuo Zisheng, and General Manager Li Bingyan; Chairman Lin Mingxiu and General Manager Jian Lizhong of the Stock Exchange; Fubang Huang Xianhua, Chairman of Financial Group, Huang Bingjun, Chairman of Fubang Securities, Xu Shengzhong, Chief Operating Officer of Zicheng Accounting Firm, etc. all attended the meeting. The executives opened the market at 09:00, witnessing the important moment of Honghua’s advanced innovation version being listed on the market.

Chairman Liu Yangwei said that Honghua Advanced, which integrates R&D, design, and testing of electric vehicles, is a decision made by Hon Hai and Yulon (2201) to promote the electric vehicle industry to “be based in Taiwan and look at the world.”

Regarding the outside world’s curiosity about the introduction of “Hon Hai Model” into Honghua’s advanced process, Chairman Liu Yangwei described it as “speed and quality”. Compared with ordinary car manufacturers, it often takes 5 to 6 years to develop from design to mass production. , Honghua has built 4 electric vehicles in less than three years, achieving the popularization of electric vehicles in Taiwan to serve domestic customers at a speed faster than the industry.

Talking about external concerns about the mass production progress of MODEL C, Chairman Liu revealed that MODEL C has passed more than a hundred vehicle tests and verifications and obtained a certificate of conformity. “Honghua Advanced is 100% in compliance with Hon Hai’s yield requirements for ICT products. We are building this MODEL C!”

Looking forward to the future, Chairman Liu Yangwei pointed out that Honghua Advanced will be based in Taiwan, use its own design and service capabilities in electric vehicles, and cooperate with Hon Hai’s BOL and CDMS business models to enter mainstream markets such as North America and Southeast Asia. In the early stages of North America, Priority will be given to passenger cars; in Southeast Asia, electric buses will be the mainstay.

Honghua Advanced Capital has a capital of 17.413 billion yuan. In 2022, its revenue will total 296 million and its net loss after tax will be 1.357 billion. In the first three quarters of 2023, its revenue will be 588 million and its net loss after tax will be 1.419 billion. Its main source of revenue is vehicle sales. The subsequent double investment in passenger cars and commercial vehicles will bring significant growth to Honghua Advanced’s revenue.

Further reading

Honghua has taken orders for more than 9,000 Model Cs and is striving to deliver them before June next year.

Honghua Advanced Technology Co., Ltd. is the 1,000th company to be listed on the Taiwan Stock Exchange and is expected to become the first Innovation Board stock to be included in the Taiwan Mid-Cap 100 Index.

Lin Xiuming revealed that Liu Yangwei told Honghua to stay in Taiwan