Recently, the Ministry of Finance held a press conference on the theme of “authority department opening”. Xu Hongcai, vice minister of the Ministry of Finance, said at the conference that the Ministry of Finance will fully implement the strategy of expanding domestic demand, and continue to exempt the vehicle purchase tax for the purchase of new energy vehicles in 2023. This policy has given new energy vehicles and related upstream and downstream industries great confidence. For Keten Seiko, it has strengthened its march into the field of new energy vehicles.
The main business of Keteng Precision is the research and development, production and sales of fastener products. After years of research and development investment and technology accumulation, the fastener products of the company have rich categories and wide application fields, which are mainly used in the fastening and connection of key parts in household appliances, automobiles and other industries. At present, most of the company’s revenue comes from the field of home appliances. It has established long-term and stable cooperative relations with domestic home appliance giants such as Haier Group and Midea Group. It has won the Best cooperation Award of Haier, the Outstanding Supplier Award of Haier Kitchen Electricity Division, and the Gold Supplier of Midea Central Air Conditioning Division, etc., and has a good reputation in the industry.
At the same time of gradually stabilizing the leading position of fastener supplier in the field of household appliances, Ketenseiko is also constantly expanding the industry boundary, strengthening the cooperation with customers in the field of automobile, such as Dongfeng Motor, FAW Group, Volkswagen and Anhui Weiling Auto Parts Co., LTD. (affiliated to Midea Group), and actively developing fastener market in the field of aerospace. At present, in the automotive field, Keten Seiko mainly provides auto fastener products for Dahlmann, Volkswagen, FAW and Dongfeng Suizhou Special Purpose Automobile Co., LTD. As China develops into the world’s largest automobile consumer market, Keteng Seiko has also increased its investment in this aspect.
According to data from the Ministry of Industry and Information Technology, the production and sales of new energy vehicles in China reached 7.058 million and 6.887 million in 2022, up 96.7 percent and 93.4 percent year-on-year respectively, ranking first in the world for eight consecutive years. The continuous innovation of the internal mechanical structure layout of new energy vehicles requires fastener enterprises to design and develop corresponding fastener products, which puts forward higher requirements for the R&D and design ability of fastener enterprises. At the present stage, there are not many enterprises entering this field. Keten Seiken has been laying out new energy vehicle products for many years, and has developed products such as battery pack shaped bolts, anti-theft groove fasteners for motors and air conditioning compressors. It has a good technology first-mover advantage and many years of accumulated production process experience, and has the ability to quickly enter into the fastener market of new energy vehicles.
Under the strong support of the state, it is foreseeable that China’s new energy vehicle industry will be in a period of rapid growth, the market scale will be further expanded, and relevant manufacturers also have more demands for the replacement of parts made in China, which creates favorable conditions for the development of Keten Precision. It is expected to open up a new track by relying on its research and development and production foundation accumulated for many years in the fastener field. Create better performance.
Post time: Mar-23-2023