Fujian Haiyuan Automatic Eqpmnts

What Fujian Haiyuan Automatic Eqpmnts does

Fujian Haiyuan Automatic Equipments, operating under the legal entity Jiangxi Haiyuan Composite Materials Technology Co., Ltd. (江西海源复合材料科技股份有限公司, SZSE: 002529), is a publicly listed Chinese industrial manufacturer headquartered in Xinyu, Jiangxi Province. Founded in 2003 and listed on the Shenzhen Stock Exchange since 2010, the company employs 501–1,000 staff and operates two distinct business segments: lightweight composite materials and photovoltaic modules.

The composite materials segment is the technology backbone, with mastery of four advanced molding processes — HP-RTM (High-Pressure Resin Transfer Molding), LFT-D (Long Fiber Reinforced Thermoplastic Direct), SMC (Sheet Molding Compound) compression molding, and glass fiber reinforced polyurethane pultrusion. These processes yield battery enclosures, underbody shields, cell compression bars, battery covers, automotive exterior panels, and air conditioning housings delivering 20–80% weight reduction versus metal equivalents, with operational temperature ranges from -40°C to 120°C and electrical insulation suited to 400V/800V platforms. The photovoltaic segment, operated through wholly-owned subsidiary Xinyu Haiyuan Power Technology Co., Ltd. (established 2020), produces ET132HBG (695–720W), DT156HBG (620–645W), and DT144HBG (570–595W) high-efficiency modules with 1.5GW of TUV-certified production capacity.

Revenue is generated through direct enterprise sales via dedicated regional sales service centers and an authorized distributor network, serving customers including CATL, BYD, and Geely in the new energy vehicle segment, plus construction firms, marine equipment manufacturers, and UAV producers. Pricing is quote-based rather than publicly disclosed, with component supply contracts as the underlying transaction structure. Following a multi-year period of restructuring — including a new controlling shareholder (Jin Zixin Holding) in 2025 and removal of the delisting risk warning in June 2026 — the company is operating from a turnaround posture, with FY2025 revenue of approximately $388.8M USD but persistent net losses of -$185.6M.

Name

Fujian Haiyuan Automatic Eqpmnts

Legal name

江西海源复合材料科技股份有限公司

Website

https://haiyuan-group.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Fujian Haiyuan Automatic Eqpmnts (SZSE: 002529) is a publicly listed Chinese manufacturer of lightweight composite materials (HP-RTM, LFT-D, SMC, pultrusion processes) and 1.5GW photovoltaic modules, supplying battery enclosures, structural components, and solar panels to automotive OEMs, battery makers, and construction firms.

Ownership category

akta.pro rank

Product category

Lightweight Composite Materials and Photovoltaic Components

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320)

SIC

Electronic Components & Accessories (3670)

akta.pro primary industry

Frames, Chassis & Structural Components Manufacturing (IMACAOAG)

akta.pro secondary industries

Assembly, Conversion Kits & OEM/ODM Contract Manufacturing (IMACAOAL), Renewable Manufacturing Materials & Subcomponents (Glass, EVA/Backsheet, Composites, Magnets) (EUAMAHAL)

Keywords

• Composite materials manufacturing
• Carbon fiber components
• Photovoltaic modules
• Automotive lightweighting
• Composite molding processes

Headquarters

HQ city

Foochow

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Composite Materials Sales: Sales of lightweight composite material components for automotive (battery enclosures, underbody shields, body panels, air conditioning housings), construction (formwork, pipe corridor panels), watercraft, heavy equipment, UAV propellers, and other applications. Products are sold directly to enterprise customers including automotive OEMs and battery manufacturers. Revenue is generated through component supply contracts.
2. Photovoltaic Module Sales: Sales of photovoltaic solar modules including ET132HBG (695–720W), DT156HBG (620–645W), and DT144HBG (570–595W) product lines. Current production capacity of 1.5GW. Revenue is generated through direct sales to solar project developers, distributors, and EPC contractors.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Fujian Haiyuan Automatic Eqpmnts manufactures lightweight composite material components (SMC, LFT-D, HP-RTM, and pultrusion processes) for automotive, construction, marine, heavy equipment, and UAV applications, including battery enclosures, underbody shields, exterior panels, air conditioning housings, energy storage cell strips, and building formwork. The company also produces high-efficiency photovoltaic modules (ET132HBG 695–720W, DT156HBG 620–645W, DT144HBG 570–595W) at a 1.5GW capacity through its Xinyu Haiyuan Power Technology subsidiary. Products are sold directly to enterprise customers including automotive OEMs, battery manufacturers, and solar project developers.

Product overview

Haiyuan Composite Materials Technology Co., Ltd. is a technology company focused on lightweight composite materials applications and photovoltaic (PV) component manufacturing. The product portfolio consists of two main segments: (1) Lightweight Composite Materials - including automotive exterior panels (SMC), engine undercovers, air conditioning housings (LFT-D), battery box components (HP-RTM), battery cell strips, energy storage components, and applications for heavy machinery, watercraft, construction, and UAVs; (2) PV Components - featuring the ET132HBG (695-720W), DT156HBG (620-645W), and DT144HBG (570-595W) high-efficiency solar panel series with 1.5GW production capacity. The company operates manufacturing bases in Xinyu, Jiangxi and Nanping, Fujian, with capabilities spanning LFT-D, HP-RTM, SMC, and pultrusion composite molding technologies.

Differentiator

Problem solved

Functional benefit

Products and services

• Automotive Exterior Panels (汽车外覆盖件) SMC composite automotive exterior panels manufactured using unsaturated polyester + short glass fiber compression molding. Density 1.8 g/cm³, 23% of sheet metal weight, 66.6% of aluminum weight. Features tensile strength above 70 MPa, corrosion resistance, UV resistance, temperature stability from -50°C to +150°C, and damping 10x that of metal. Designed for NEV OEMs requiring Class A surface quality.
• Engine Undercovers (发动机底护板) LFT-D composite engine undercovers made from polypropylene + long glass fiber. 80% lighter than steel, 60% lighter than aluminum. Tensile strength above 70 MPa, flexural modulus above 5 GPa, impact strength 26 kJ/m². Operating range -40°C to 120°C with wave-rib design for stiffness improvement.
• Air Conditioning Housings (空调壳体) LFT-D composite air conditioning housings with polypropylene + long glass fiber. Density 1.0–1.2 g/cm³, 60% lighter than aluminum, 80% lighter than steel. Tensile strength above 70 MPa, flexural modulus above 5 GPa, impact strength 26 kJ/m². Features '几'-shaped reinforcement ribs, wide operating temperature range, and ~2dB noise reduction.
• Battery Box Covers (箱盖) Epoxy resin + continuous glass fiber composite battery box covers. Minimum wall thickness 0.9 mm, density 1.8–2.0 g/cm³, 74% weight reduction versus traditional sheet metal. Tensile strength 400 MPa. Self-insulating, acid/alkali/salt spray resistant, flame retardant. Designed for new energy vehicle battery enclosures.
• Cell Strips (电芯压条) Composite cell strips used for battery pack compression and isolation. Designed for new energy vehicle battery modules.
• Energy Storage Cell Strips (储能电芯压条) Pultruded polyurethane + glass fiber energy storage cell compression bars. Density 2.1 g/cm³, 60–70% lighter than metal equivalents. Tensile strength above 1000 MPa. 'Mountain-shaped' cross-section design reduces weight 20% while increasing stiffness 15%. Thermal conductivity only 0.03–0.05 W/m·K, insulation resistance ≥10¹⁰Ω, breakdown voltage ≥30 kV/mm.
• Composite Bottom Protective Plates (复合材料底护板) Glass/carbon fiber reinforced composite underbody protection panels for battery enclosures. 40–60% lighter than steel, 15–30% lighter than aluminum. Features impact resistance, electrical insulation, thermal insulation, corrosion resistance, NVH improvement, and wide temperature range -40°C to 120°C.
• Battery Boxes (电池箱体) HP-RTM composite battery enclosures made with glass/carbon fiber reinforced resin matrix composites. Density 1.6–1.9 g/cm³, 20–40% lighter than aluminum alloy. Provides electrical insulation, high/low temperature resistance (-40°C to 120°C), corrosion resistance, and flame retardancy. Suitable for 400V/800V high-voltage battery platforms.
• Heavy Machinery Applications (重工领域应用) Composite components for heavy machinery including forklift covers. Provides weight reduction, improved appearance quality, and lower comprehensive costs versus metal alternatives for industrial equipment manufacturers.
• Water Transportation Applications (水上交通领域应用) SMC composite jet ski (摩托艇) body parts using SMC compression molding. Features complex styling capability, excellent product consistency, and superior appearance quality for watercraft manufacturers.
• Building Materials Applications (建筑材料领域应用) Composite construction materials including building formwork and pipe corridor panels for major infrastructure projects such as the Xiong'an Pipeline Corridor and Nanjing Pipeline Corridor. Lightweight, durable, and suited for high-volume, rapid-delivery construction deployments.
• UAV Blade Applications (无人机桨叶领域应用) Composite materials for unmanned aerial vehicle propeller blades and components. Provides lightweight, high-strength material solutions for extended flight time and durability for UAV manufacturers.
• Haiyuan ET132HBG 695–720W Photovoltaic Module High-efficiency photovoltaic module from the ET132HBG series with power output range of 695–720W. Part of Haiyuan Power Technology's 1.5GW PV production capacity targeting utility-scale and commercial solar project developers.
• Haiyuan DT156HBG 620–645W Photovoltaic Module High-efficiency photovoltaic module from the DT156HBG series with power output range of 620–645W. TUV certified for international quality and safety standards. Part of Haiyuan Power Technology's 1.5GW PV production capacity for solar project developers and EPC contractors.
• Haiyuan DT144HBG 570–595W Photovoltaic Module High-efficiency photovoltaic module from the DT144HBG series with power output range of 570–595W. TUV certified for international quality and safety standards. Sold to solar project developers, distributors, and EPC contractors.

Quantifiable outcome

• Battery enclosures reduce weight by 20–40% vs. aluminum alloy equivalents
• +5 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Three partnerships are on record, tiered core and strategic.

• Geely (吉利汽车/吉利英伦)coreStrategic or Co-development Partner · 25 December 2018Strategic deep collaboration in composite material lightweighting for Geely's Lunis (英伦) new energy vehicle project in Yiwu. Haiyuan's high-end SMC composite products meeting Class A surface requirements were adopted for Geely's new energy vehicle. Geely invested RMB 7.2 billion in the Yiwu manufacturing base. Haiyuan was the primary composite materials supplier for body panels, achieving the only domestic supplier qualification meeting car Grade A surface requirements. This collaboration positioned Haiyuan's automotive lightweighting capabilities at an international first-class level.
• Geely (吉利汽车)coreStrategic or Co-development Partner · 5 June 2017Haiyuan New Materials was confirmed as the SMC supplier for a Geely vehicle model's exterior panel project, winning an order for 20 out of 33 exterior panel products. This was Haiyuan's second major breakthrough in the high-end SMC composite materials field after the Changan project, competing with international companies and succeeding through mature technology and manufacturing capabilities.
• China Composites Industry Association (中国复合材料工业协会)strategicStrategic or Co-development PartnerHaiyuan participated as a vice-chairman unit in the 2019 China Composites Industry Association Annual Conference in Zaoqiang, Hebei. The company showcased its LFT-D long fiber reinforced thermoplastic composite production line used for manufacturing new composite logistics pallets at the conference demo, receiving strong attention and praise from industry delegates.

Scale indicators8 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Webasto: German automotive supplier of roof systems, battery thermal management, and composite components. Comparable to Haiyuan in supplying composite-based structural and thermal parts for NEV battery systems.
• Teijin Limited: Japanese advanced materials group with carbon fiber, composites, and automotive part operations. Parent of Continental Structural Plastics and direct competitor in advanced composites for NEV applications.
• Continental Structural Plastics (Teijin Automotive): Teijin-owned specialist in SMC and carbon-fiber-reinforced composite body panels, battery enclosures, and Class A surface exterior components for global OEMs. Closest direct competitor to Haiyuan in automotive composite exterior panels and structural lightweighting.
• SGL Carbon: German manufacturer of carbon fiber and composite materials serving automotive, aerospace, and industrial applications. Comparable to Haiyuan in producing carbon-fiber-reinforced components including battery enclosures and lightweight structural parts.
• Toray Industries: Japanese carbon fiber and composite materials leader with significant automotive applications including battery enclosures and structural parts. Closely comparable to Haiyuan's composite materials science and process depth.
• Plastic Omnium: French tier-1 supplier of composite exterior body panels, tailgates, and energy storage systems. Directly comparable to Haiyuan in supplying Tier-1 NEV OEMs with composite structural and exterior components.

Broad incumbents

• Magna International: Canadian tier-1 automotive supplier with broad portfolio including composite body panels, structural components, and battery enclosures. Larger and more diversified than Haiyuan but overlaps in automotive composite lightweighting.
• LONGi Green Energy: China's largest vertically integrated solar manufacturer and one of the largest PV module producers globally. Direct competitor to Haiyuan Power subsidiary in the Chinese PV module market, though at significantly greater scale.
• Jinko Solar: Top-tier global PV module manufacturer with major Chinese operations. Direct competitor to Haiyuan Power in the Chinese PV module supply market at much larger scale (~70+ GW).

Others

• Solvay: Belgian advanced materials supplier producing specialty polymers and composite resins used in automotive and aerospace applications. Adjacent peer providing enabling materials that Haiyuan and its direct competitors consume as inputs.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fujian-haiyuan-automatic-equipments-co-ltd

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

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 Fujian Haiyuan Automatic Eqpmnts