Minshi Group (00425) is now up more than 4%. As of press release, it has risen 4.26% to HK$14.18, with a turnover of HK$235.361 million.
The Zhitong Finance App learned that Minshi Group (00425) is now up more than 4%. As of press release, it has risen 4.26% to HK$14.18, with a turnover of HK$235.361 million.
According to the news, Minshi Group announced a few days ago that the company will invest 173.5 million US dollars in Aguascalientes, Mexico to build two new plants. The investment will be divided into several stages. It is planned to build two new plants, one specializing in the production of aluminum cases for electric vehicle batteries and the other for the spraying process for automotive parts.
Guotai Junan, on the other hand, pointed out that competition in the automobile market is becoming increasingly fierce, and car companies continue to launch new energy models, which is beneficial to the development of Minshi Group's battery case business. The sales volume of Minshi Group's new intelligent exterior systems business and chassis structural parts business has begun to rise, and is gradually becoming the engine of Minshi Group's revenue growth. Minshi Group has received related business orders from China's leading NEV companies. Minshi Group is gradually becoming one of the world's leading suppliers of smart front, rear door and side door solutions. Furthermore, against the backdrop of a recovery in global passenger car sales, sales in the traditional aluminum and plastics business unit also remained strong. Minshi Group's overall revenue is expected to exceed expectations in 2024.