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OEM auto parts suppliers eye 2022 second half performance

Jul 07, 2022 | By EDN

After the economy and industries reopened for work in China, vehicle component makers regard the H2 2022 favorably, as customers in the auto OEM parts market rushed to ship out delayed orders. At the same time, there was also a significant increase in supplementary orders for new energy vehicles.

Various auto parts manufacturers believe that the recent acceleration of the deployment of orders and shipments with major customers in the mainland OEM market is expected to have a wave of rush shipments. In addition, the State Council of China is actively promoting new energy vehicles to become adopted in the countryside and the auto industry. The policy of reducing the purchase tax of some passenger cars in stages is expected to not only return to the right track in the future, but also to make up for the revenue lost due to the city closure in the second quarter, and the operation of the whole year is positive.

OEM revenue growth has been affected by China's blockade and control. However, with the increase in demand from mainland automakers to pull goods, the effect of order deferral has emerged. It is estimated that after June, revenue will grow against the trend.

The legal person pointed out that Liqing, the largest LED module factory in mainland China, is an example. Although the demand in the mainland automobile consumer market is booming, due to the impact of the epidemic, the annual revenue in May decreased by more than 20%. However, Guangzhou Xiaomi Chedeng and others have demanded Liqing LED car lamp modules. It is still prosperous, and the roadmap for developing energy-saving and carbon reduction and developing new energy vehicles has become clearer. Liqing's orders on hand have reached a record high level, and the number of orders for new energy vehicles has increased by about 15% compared with the same period last year.

In this regard, Liqing also pointed out that according to the historical revenue performance of the past five years, as the second half of the year enters the peak season of the automobile industry, the company is confident that the revenue performance in the second half of the year will be significantly better than the growth momentum of the first half of the year. It is hoped that, driven by the market trend, it will strive for opportunities with more new car factories, new models and new orders, seize more market shares in the LED lamp module market, and pull more sales into the company's overall operations.

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