What Add does

Zhejiang Zhengyu Industrial Co., Ltd. (ADD) is a Chinese automotive shock absorber manufacturer and the country's largest shock absorber exporter by volume. Founded in 1994 and listed on the Shanghai Stock Exchange Main Board (ticker 603089) on January 26, 2017, the company operates five manufacturing bases across Zhejiang and Anhui provinces, with headquarters in Yuhuan, China. Its product portfolio covers 20,000+ specifications across nine major series, including cylindrical, supporting core, tray-type, tray bracket, steering, cabin, and electronic control dampers (CDC), air springs/air suspension, engine mounts, and intelligent suspension system solutions. Monthly shock absorber production crossed 200 million units for the first time in late 2024, supported by a provincial-level industrial internet platform, robot-collaborative manufacturing ecosystems, and a digital factory infrastructure spanning over 650 mu (~433,000 sqm) of land.

The company serves two primary customer segments: the global automotive aftermarket (primary) and vehicle manufacturer OEMs. Its business model is B2B hardware sales of shock absorbers and suspension components under a quote-based pricing structure, distributed through direct enterprise sales, international distribution networks, North American logistics/warehouse centers, and an expanding domestic auto parts supermarket chain franchise model. Confirmed enterprise customers include Advance Auto Parts (2022 Global Procurement Excellent Supplier / Vendor of the Year), Enfu Group (strategic partner since April 2025 for global supply chain coordination and intelligent manufacturing), and Fuchs Lubricants China (long-term strategic partner since November 2024 for suspension technology and quality collaboration). The company has been designated a National Specialized "Little Giant" Enterprise, holds IATF 16949 certification, and serves as the main drafting unit for the TZZB 0493-2018 Zhejiang Manufacturing group standard for passenger vehicle shock absorbers.

Revenue mechanics are anchored in scaled hardware manufacturing with growing exposure to higher-value electronic and air suspension products. Reported 2021 operating revenue was 16.1 billion CNY, with the financial data series indicating double-digit growth through 2025. The company is publicly listed, led by founder/Chairman Zheng Nianhui, and operates as the parent of wholly-owned manufacturing subsidiary Hongyu Industrial (鸿裕工业). Marketing relies heavily on international auto parts trade show participation (Automechanika Frankfurt, AAPEX Las Vegas, Automechanika Shanghai), industry and government accolades, and a corporate website (addchina.com), with no disclosed direct-to-consumer app or digital channel presence.

Name

Add

Legal name

浙江正裕工业股份有限公司

Website

https://addchina.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Zhejiang Zhengyu Industrial (ADD) is a Chinese publicly-listed manufacturer of automotive shock absorbers and suspension components, producing 200M+ units monthly across 20,000+ SKUs for the global aftermarket and OEM segments, and ranking as China's largest shock absorber exporter.

Ownership category

akta.pro rank

Product category

Automotive Suspension Components

NAICS

Motor Vehicle Steering and Suspension Components (except Spring) Manufacturing (33633), Motor Vehicle Parts Manufacturing (3363)

SIC

Wholesale-Motor Vehicle Supplies & New Parts (5013)

akta.pro primary industry

Suspension Systems & Components (Springs/Shocks/Struts/Air Suspension) (IMACAIAA)

akta.pro secondary industries

Passenger Vehicle Chassis, Suspension, Steering & Braking Manufacturing (ICE) (IMACAAAJ), Truck Chassis, Axle, Suspension & Brake Systems Manufacturing (IMACABAL), Aftermarket Suspension & Steering Components Manufacturing (Shocks/Struts/Bushings/Tie Rods) (IMACANAC)

Keywords

• Automotive shock absorbers
• Suspension system components
• Aftermarket auto parts
• OEM suspension manufacturing
• Dampers and engine mounts

Headquarters

HQ city

Yuhuan

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Automotive Shock Absorber Manufacturing and Sales: Manufacturing and sales of automotive suspension system shock absorbers and related components (single-tube, double-tube, damper assemblies, electronic controlled dampers, air springs, cabin dampers, steering dampers, engine mounts, etc.) to global automotive aftermarket and OEM customers

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Zhejiang Zhengyu Industrial Co., Ltd. (ADD) manufactures and sells automotive suspension system shock absorbers and related components, including cylindrical, supporting-core, tray-type, and electronic-controlled dampers, air springs, steering dampers, cabin dampers, engine mounts, and engine seals. Products serve both global automotive aftermarket customers and OEM vehicle manufacturers with over 20,000 specifications across 9 major product series. The company operates five manufacturing bases across Zhejiang and Anhui provinces and supplies customers worldwide through direct sales, distribution networks, and trade show channels.

Product overview

Zhejiang Zhengyu Industrial Co., Ltd. (ADD) is a leading automotive shock absorber manufacturer offering over 20,000 product specifications across 9 major series. The company's core product portfolio centers on cylindrical shock absorbers, supporting core shock absorbers, tray-type shock absorbers, tray bracket-type shock absorbers, steering dampers, and cabin dampers for both passenger and commercial vehicles. The product line extends to damper assemblies, electronic control dampers (including CDC systems), air springs/air suspension, modified shock absorbers, shock absorber top rubber mounts, engine mounts, engine seals, engine overhaul kits, and attachment packages. ADD provides intelligent suspension system solutions that integrate these hardware products with technical services for the global automotive aftermarket and OEM market. The company operates five manufacturing bases across Zhejiang and Anhui provinces, serving customers worldwide through a global sales network.

Differentiator

Problem solved

Functional benefit

Brands

• ADD: Company's primary brand for automotive shock absorbers and suspension systems

Products and services

• Cylindrical Shock Absorbers (筒式减震器) Built-in nitrogen design that reduces aeration and vehicle instability, providing a comfortable driving experience. Used in passenger and commercial vehicle suspension systems for automotive aftermarket and OEM customers.
• Supporting Core Shock Absorbers (支芯式减震器) Controls spring rebound force while ensuring wheel positioning accuracy during driving. Maximizes vehicle ground contact and stability. Designed for passenger and commercial vehicle suspension applications.
• Tray-type Shock Absorbers (托盘式减震器) High-quality spring tray materials combined with supporting-core structure to prevent cracking and leakage, enhancing durability and driving performance. Targeted at OEM and aftermarket vehicle suspension replacements.
• Tray Bracket-type Shock Absorbers (托盘支架式减震器) Integrates mounting bracket into the absorber body for suspension fixation, concentrating damping force on the coil spring reciprocating path. Designed for suspension mounting requirements in commercial and passenger vehicles.
• Steering Dampers (转向减震器) Reduces steering vibration across all road conditions, minimizes driver fatigue, improves handling performance, and reduces tire wear and front component premature aging. For automotive aftermarket and OEM applications.
• Cabin Dampers (驾舱减震器)

Quantifiable outcome

• Monthly shock absorber production exceeding 200 million units for the first time (late 2024)
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature9 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• Enfu (恩福（中国）)coreStrategic or Co-development Partner · 17 April 2025Strategic cooperation agreement signed April 17, 2025; collaboration covering automotive core components R&D, global supply chain coordination and intelligent manufacturing upgrade; Enfu delegation visited Zhengyu intelligent factory and lean automated warehouse; partnership represents strategic upgrade in automotive suspension sector
• Fuchs Lubricants China (福斯润滑油（中国）)coreStrategic or Co-development Partner · 13 November 2024Long-term strategic cooperation agreement signed November 13, 2024 at Zhengyu Intelligent Manufacturing Park; strategic partnership in automotive suspension field; mutual technology exchange and quality improvement; both companies aim to jointly create superior automotive suspension system solutions
• Beisern (北森云计算有限公司)supportingTechnology or IntegrationRecruitment management system (ATS) project cooperation launched June 24, 2022; leveraging Beisern's HR SaaS technology to drive digital transformation of group human resources management; enabling full-process recruitment data analysis, precise recruitment control, talent pool building, and talent echelon development
• Taizhou Vocational and Technical College (台州职业技术学院)supportingImplementation/ SI/ Consulting PartnerSchool-enterprise cooperation for talent cultivation; Taizhou Vocational College Yuhuan branch awarded 'Vocational Growth Experience Base' to Zhengyu; regular student visits and internships; 'Modern Apprenticeship' training model exploration; collaborative talent development and recruitment
• Yuhuan People's Hospital (玉环市人民医院)supportingOthersZhengyu donated 3 million CNY to establish 'Zhengyu Medical Development Fund'; annual award of 500,000 CNY to medical staff for 'Zhengyu Medical Award'; supports medical talent development and hospital improvement; ongoing 3-year partnership since 2022

Scale indicators12 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• Hitachi Astemo: Hitachi Astemo is a broad Japanese automotive components supplier with significant OE suspension and electronic damping offerings; competes with Zhengyu in OEM and increasingly in electronically controlled dampers, though suspension is one of many product lines within a multi-system portfolio.
• ZF Friedrichshafen (Chassis Technology): ZF is a top-tier global chassis systems supplier with broad damping, braking and active suspension portfolios serving most major OEMs; competes with Zhengyu in OE shock absorbers and increasingly in electronic/semi-active suspension, but as part of a much wider multi-product portfolio.
• SACHS (ZF Aftermarket): SACHS is ZF's premium aftermarket shock absorber and clutch brand competing globally with Bilstein and Monroe; directly comparable in the aftermarket channel where Zhengyu's ADD brand is trying to expand, but operating as part of ZF's much larger chassis portfolio.

Direct peers

• DRiV (Tenneco Monroe): DRiV, owner of the Monroe brand, is a major global ride-control and aftermarket suspension specialist; directly comparable to Zhengyu in the aftermarket shock absorber segment and competing for similar distributor relationships (e.g., with North American aftermarket retailers like Advance Auto Parts).
• KYB Corporation: KYB is Japan's largest OEM hydraulic shock absorber manufacturer and a major global supplier to automakers, with extensive aftermarket coverage; highly comparable to Zhengyu in product mix and dual OE/aftermarket GTM, though with greater OEM share with Japanese automakers.
• Showa Corporation: Showa, a Honda group company, manufactures OE shock absorbers and power steering components globally; highly comparable to Zhengyu as an OE-focused suspension specialist, particularly relevant for OEM supply competition with Japanese and global automakers.
• Bilstein (ThyssenKrupp Bilstein): Bilstein is one of the world's leading manufacturers of shock absorbers and suspension components for OE and aftermarket, with particularly strong brand equity in Europe and North America — directly comparable to Zhengyu's core shock absorber business, though focused on premium/OEM segments.
• Mando Corporation: Mando is a major Korean chassis and suspension supplier with strong OE relationships with Hyundai/Kia and growing global aftermarket presence; closely comparable to Zhengyu as a chassis/suspension specialist with similar OE plus aftermarket model and international expansion ambitions.

Regional players

• Gabriel India: Gabriel India is one of India's largest shock absorber manufacturers serving both domestic OEM and aftermarket; comparable to Zhengyu as a regional suspension specialist with growing export ambitions, but primarily serving the Indian market rather than competing directly in Zhengyu's core geographies.

Others

• Anhui Zhongding Sealing Parts: Anhui Zhongding is a major Chinese automotive rubber sealing and parts manufacturer with global Tier-1 customer relationships; thematically comparable as a globally competitive Chinese auto parts manufacturer pursuing international expansion, though focused on rubber sealing rather than suspension.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Add