Wanxiang Qianchao Reports 15.76% Net Profit Growth in 2024 Annual Results

On April 25, Wanxiang Qianchao released its financial report for the year 2024. The company recorded annual revenue of RMB 12.868 billion, marking an 11.17% decrease year-on-year. However, net profit attributable to shareholders rose by 15.76% to RMB 951 million, while net profit excluding non-recurring gains and losses surged by 21.69% to RMB 933 million. The company plans to distribute a cash dividend of RMB 1.80 (pre-tax) for every 10 shares, with a payout ratio of 62.53%.

The company also released its Q1 2025 earnings on the same day. First-quarter revenue reached RMB 3.498 billion, representing a 27.39% year-on-year increase. Net profit attributable to shareholders for the quarter was RMB 293 million, up 5.29%, signaling a continued positive momentum in business performance.

In terms of emerging business development, Wanxiang Qianchao is focusing on humanoid robotics and the low-altitude economy. The company is developing specialized bearings for humanoid and industrial robots, such as ceramic hybrid bearings and low-noise bearings, while also expanding into the market for special-purpose robots. In the low-altitude sector, it has supplied sample bearings for the transmission systems of heavy-lift helicopters to a leading enterprise and is currently engaged in R\&D for next-generation heavy-lift helicopters, including ball screw products for low-altitude aircraft.

Regarding the impact of U.S. tariff policies, the company stated that it has proactively expanded its presence in Southeast Asia and other regions, keeping overall risk under control. As a leading auto parts manufacturer, Wanxiang Qianchao holds three national-level "single champion" titles for universal joints, wheel hub units, and drive shafts. It also owns four state-certified "Little Giant" specialized and innovative enterprises.

In 2024, the company invested RMB 520 million in R\&D, accounting for 4.04% of total revenue, up from the previous year. Its R\&D personnel grew by 27.95% to 856 employees, with the number of researchers holding a master's degree increasing by 40.38%. Looking ahead to 2025, Wanxiang Qianchao plans to develop new products such as ball screw bearing units for new energy vehicles and screw-bearing assemblies for humanoid robots. It also aims to enhance investments in automation, digitalization, and sustainability, driving the development of new productive forces.