Ningbo Xinyue Electronic Technology Co., Ltd., formerly Cixi Xinyue Electric Appliances (renamed in March 2020), was established in 2004. It is a private enterprise located in Gutang Street, Cixi City, covering an area of 7,000 square meters. Specializing in the research and development and production of auto parts, it mainly provides customers with research and development of high-precision stamping and injection molds, and solutions for precision injection molding with metal inserts. The company has 350 employees and is the preferred supplier of Bosch and United Automotive Electronics in Germany. In the past three years, the company has been developing rapidly with an annual growth rate of more than 20%, and its sales in 2019 exceeded 200 million yuan.
The company's main products are automotive throttle position sensor covers and various temperature and displacement sensors around the engine; Xinyue is the largest throttle body cover supplier in China, with an annual output of 10 million sets of throttle covers, with a market share of Up to 30%, it is the invisible champion in this segment. The company was selected as a high-tech and high-growth enterprise in Ningbo in 2015, and is positioned as a high-end manufacturing enterprise. Since 2010, the company has been transforming and upgrading intelligent manufacturing. The company's own automation department was established.
Xinyue Company is one of the top 100 enterprises in Cixi City in 2017, and ranked the 140th among Ningbo heroes with an average output value of 20 million per mu. At the same time, in 2017, the company invested 45 acres of land in Cixi High-tech Industrial Park to build a new factory for capacity expansion, and put it into production in early 2020. In the future, the factory will become the benchmark for intelligent manufacturing in the same industry. At the same time, in 2019, the company established a new R&D center in Fengxian District, Shanghai, focusing on resistance and laser welding technology on new energy components. At present, the company achieved domestic sales of 42 million yuan in the first quarter of 2020, a year-on-year increase of 5%, and foreign trade sales of 6 million yuan, a year-on-year increase of 15%. Under the influence of the epidemic, the company's contrarian growth has benefited from automated production capacity improvements and technology research and development of new projects.