- Business
- Kehua Holdings Co., Ltd. (603161.SS) manufactures and sells precision cast components for automotive turbochargers, engineering machinery, and hydraulic systems; its core products include turbine housings, intermediate housings, differential housings, motor housings, chassis components such as clamp bodies, brackets, and steering knuckles, counterweight blocks, planetary carriers, bearing seats, valve and pump bodies, shells, and brake caliper assemblies for pneumatic braking systems in light trucks, medium trucks, heavy trucks, buses, trailers, and non-highway engineering vehicles. Founded in 2002 and headquartered in Changzhou, Jiangsu Province, China, the company--formerly known as Liyang Kehua Machinery Manufacture Co., Ltd. until its name change in June 2014--operates primarily in the automotive and construction machinery sectors, serving major global clients including Honeywell International, BorgWarner, Mitsubishi Heavy Industries, and Ishikawajima-Harima Heavy Industries. It exports products to North America, South America, Europe, Japan, South Korea, Thailand, India, and other international markets, holding a leading position as China's top producer of automotive turbocharger parts with approximately 12% global market share in the segment. In recent developments, Kehua Holdings plans to invest up to USD16 million to establish a wholly-owned subsidiary, Kehua Holdings Thailand, and construct a production base in Thailand to support overseas expansion and enhance service to international customers, announced in December 2024; the company also anticipates raising up to CNY326.1 million through a private placement of up to 30 million shares in August 2025, with participation from new investors Lu Hongping and Tu Han, who face a 36-month lock-up period and are involved in a potential shift of the actual controller alongside share transfers completed in late 2024; additionally, it authorized a share repurchase program of CNY20-30 million in April 2025 for employee stock ownership or incentives, and deregistered its subsidiary Kehua Power in July 2025 to optimize resource allocation.