Global auto parts giants face challenges, while China United Electronics grows against the trend

Recently, many international auto parts manufacturers such as ZF, Magna, and BorgWarner have announced their financial reports for the second quarter and the first half of this year. Due to factors such as declining production and rising costs, companies such as Magna, Autoliv, and Lear have lowered their full-year expectations. However, at the same time, Chinese auto parts company United Electronics has achieved counter-cyclical growth thanks to its outstanding performance in the new energy field. Data show that the cumulative deliveries of United Electronics' electric bridge products have exceeded 1 million units, and the cumulative deliveries of inverter products and motor products have exceeded 2 million units and 3 million units, respectively. In 2023, United Electronics' sales revenue reached 37.088 billion yuan, a year-on-year increase of nearly 20%. It is expected to reach a sales volume of 40 billion yuan this year.