Recently, Xingdesheng (603344.SH) stated during a reception for institutional investors that in 2018, the company acquired Xingdesheng New Energy to expand its battery pack business, and simultaneously established an SMT production workshop to complete the synchronous expansion of the electric machine, electric motor control system, and battery pack complete business sectors. In 2022, the company established a vehicle motor division and an industrial fan division, intending to enter the vehicle motor and industrial fan markets using the experience, technology, and overall cost advantages gained in the field of direct current brushless motors.
The company will establish a production base in Vietnam in 2023, and has already achieved small-scale trial production.