Faced with thousands of announcements from listed companies every day, what should we read? Announcements on major events often run into dozens or hundreds of pages. What is the key point? I don’t know whether the bunch of professional terms in the announcement are good news or bad news? Please refer to the "Quick Reading Announcement" column of the Corporate News Department of the Financial Associated Press. Our reporters stationed across the country will bring you accurate, fast and professional interpretations on the evening of the announcement.
Financial News Agency reported on March 16 (Reporter Chen Xixiao) Automotive cable supplier Kabei Yi (300863.SZ) has accelerated its pace of going overseas and plans to invest approximately 250 million yuan to build a production base in Vietnam.
The company announced today evening that it plans to invest in the establishment of a wholly-owned subsidiary, Vietnam Kabei Electric Technology Co., Ltd. (tentative name), through its wholly-owned subsidiary Hong Kong Kabei Industrial Co., Ltd., and ultimately invest in the construction of a production base in Vietnam. The total cumulative investment of this project is expected to be no more than US$36 million (approximately RMB 250 million). This transaction does not constitute a related transaction or major asset restructuring.
According to the announcement, the registered capital of the investment target is US$3 million, and the investment method is its own funds or self-raised funds. The business scope includes the design, research and development, production, procurement and sales of automotive electrical systems.
The announcement further stated that this external investment aims to "meet the needs of overseas business development, further expand the Southeast Asian market, quickly respond to local customer needs and achieve rapid product delivery."
Kabeyi was founded in 1986. Its main business is the research and development, production and sales of automotive cables. Its products cover data cables, new energy cables and ordinary cables. In the field of new energy vehicles, the company has entered the supply chain of mainstream vehicle manufacturers such as BYD, Tesla, Geely, NIO, Ideal, Xpeng, and Xiaomi, and its products can meet the needs of high-voltage platforms such as 800 volts and 1,000 volts.
In addition, this is not the first time that Kabeyi’s overseas strategy has been implemented. The company has previously deployed a production base in Mexico and entered the production capacity ramping stage. In March last year, it received a designated procurement notice from an internationally renowned wire harness company. Total sales are expected to be approximately 1 billion yuan from 2025 to 2027.
Since the beginning of this year, with the restructuring of the global supply chain and the increasing demand of auto companies to go overseas, domestic auto parts companies have intensively deployed in Southeast Asia. Its mature industrial foundation and location advantages make it the first choice for setting up overseas factories.
Take Thailand, a hotspot for overseas exports, as an example. Products produced here can be exported to other ASEAN countries with preferential tariff conditions through the ASEAN Free Trade Agreement network. Guangdong Hongtu (002101.SZ) announced on January 20 that it planned to invest no more than 95 million yuan to establish a subsidiary in Thailand to undertake the export business of the interior and exterior decoration sectors; Xinzi Group (002664.SZ) announced on February 6 It plans to invest US$40 million to build a stator and rotor core factory in Thailand; Taotao Vehicle Industry (301345.SZ) announced on March 9 that it will increase its investment in the Thai production base to US$34.135 million to further expand overseas production capacity.
Vietnam and Malaysia have also attracted the deployment of many companies. Hongfa Holdings (600885.SH) announced on January 23 that its holding subsidiary Hongfa Audio has invested approximately RMB 38 million to establish a joint venture in Vietnam, mainly engaged in the manufacturing of electronic equipment such as vehicle control modules; Xinquan Holdings (603179.SH) announced on February 4 that it plans to invest US$42 million to establish a subsidiary in Malaysia to promote the globalization strategy of its automotive trim business.
