After being approved by the authorities, the acquisition of a 70% controlling stake in the Chinese automotive supplier Jiangsu Huanyu Group, which was announced in November 2024, was finalised on February 28, 2025. As a result, Business Group Asia’s yearly income rises dramatically and it gains access to all of the major Chinese manufacturers.
Today marked the execution of the November 19, 2024, agreement to purchase 70% of Jiangsu Huanyu Group’s shares. The authorities have given the takeover all the approvals it needs. Consequently, on February 28, 2025, Autoneum will acquire a majority ownership in one of China’s top providers of lightweight components for light and commercial vehicles. The remaining 30% of the share capital may likewise be acquired by Autoneum in 2028. The Jiangsu Huanyu Group will continue to conduct business under its Chinese name, as was previously declared.
Jiangsu Huanyu Group was founded in 2001 and employs 1,200 people across 13 production facilities* near regional automakers in China’s north, west, and southeast, including the rapidly expanding automotive regions of Anhui and Shaanxi. The Group’s product line offers significant potential for synergies with current product offerings, including headliners, trunk and interior trim, wheelhouse outer liners, carpets, inner and outer dashes and insulation for the engine bay and underbody. Jiangsu Huanyu Group made over CHF 130 million in revenue during the 2023 fiscal year, with a notable rise in 2024.
The acquisition is another significant step towards the medium-term goal of producing 20% of Group revenue in Asia. Eelco Spoelder, the CEO of Autoneum, explains: “Jiangsu Huanyu Group is a great strategic fit for Autoneum, as it generates over 90% of its sales from Chinese clients. By getting access to a well established clientele in China, which includes a number of prominent Chinese automakers including BYD, BAIC, and GAC, we are bolstering our position in the largest automotive market globally. Jiangsu Huanyu Group’s presence and diversified product portfolio will also support the expansion of our commercial vehicle business in China and enable us to leverage further synergies in the areas of technology, manufacturing processes and purchasing.”
- Although it is officially only one location, the Wuhan factory is run by multiple Jiangsu Huanyu Group entities. Therefore, rather than the 14 production facilities that were announced on November 19, 2024, a total of 13 facilities were bought with the Jiangsu Huanyu Group.