Hushan Autoparts Inc. the World’s Largest Aftermarket Car Door Handle Manufacturer, Approved for Stock Market Listing on November 19

Chairman Chen Ying-chih stated that Hushan boasts over half a century of deep expertise in R&D and management, focusing on the global automotive aftermarket parts sector. The product range includes car door handles and automotive cameras. Chen expressed strong confidence in the company’s operational performance for the year.

Hushan Autoparts Inc. (TWSE:7736), a new player in automotive parts and the world’s largest aftermarket (AM) car door handle manufacturer, received initial approval for its stock listing application from the Taiwan Stock Exchange Listing Review Committee on November 19. Pending final approval from the board of directors, Hushan has officially begun its journey to a public listing. On the same day, its stock price surged to NT$124.5 during intraday trading, marking a peak increase of 5%.

Following the release of business opportunities in the North American market from State Farm, which allowed the adoption of non-OEM parts, demand has steadily increased. Hushan’s primary market focus is the AM sector, where it has set its mid- to long-term strategic goal, Hushan 123: “CAPA Excellence, AM 2.0, and Solving the Triple High Challenges.” These strategies aim to capitalize on the growing demand for automotive electronics. As the world’s largest car door handle manufacturer, Hushan’s long-term growth prospects remain promising.

In recent years, Hushan has partnered with the Certified Automotive Parts Association (CAPA) in the United States to jointly establish certification standards CAPA702 for automotive cameras and CAPA703 for ultrasonic radars. The company has invested tens of millions to create the world’s only CAPA-certified testing laboratory for these standards, entering the ADAS (Advanced Driver Assistance Systems) parts market. Hushan aims to become the world’s largest AM supplier of automotive cameras and radars while aggressively securing domestic and international patents to maintain its competitive edge.

Hushan has demonstrated stable performance. The company specializes in the R&D, manufacturing, and sales of car door handles, automotive cameras, and radars. Its domestic sales accounted for 16.05% of total revenue, while exports made up 83.95%. From 2021 to 2023, the company reported pre-tax net profits of NT$417 million, NT$474 million, and NT$374 million, respectively, with earnings per share (EPS) of NT$5.59, NT$5.61, and NT$4.34. For the first three quarters of this year, pre-tax profits reached NT$422 million, translating to an EPS of NT$4.94.

Reported by Huang Shu-hui for the Economic Daily News, Taipei.
https://money.udn.com/money/amp/story/5607/8369575
As reported by the Commercial Times
https://www.ctee.com.tw/news/20241118701658-430201