Huguang Co., Ltd. plans to invest no more than 37.5 million euros to establish a base in Tunisia

Radar Finance | Written by Yang Yang | Edited by Li Yihui

On March 17, Shuguang Co., Ltd. (Stock Code: 605333) announced that through its wholly owned subsidiary, Shuguang (Hong Kong) International Limited, it established a wholly owned subsidiary in Singapore, HUGUANG INTERNATIONAL PTE. LTD., and partnered with Shuguang Hong Kong to set up Huguang Auto Harness Tunisia SARL in Tunisia. The company will invest in building an automotive wiring harness manufacturing base in Tunisia.

The total investment for this project will not exceed €37.5 million, mainly used for establishing and operating the overseas company, land acquisition, factory construction, equipment procurement, and working capital.

This outward investment is an important step in the company’s strategic expansion overseas, helping it to better align with international markets, respond more flexibly to global customer needs, and enhance its global market competitiveness and risk resistance.

According to Tianyancha, Shuguang Co., Ltd. was established on March 31, 1997, with a registered capital of 464.040406 million RMB. The legal representative is San Rong, and the registered address is No. 388, Huguang Road, Zhangpu Town, Kunshan City. Its main business involves the research, development, production, and sales of automotive high and low voltage wiring harnesses.

Currently, the company’s chairman is Cheng Sanrong, the secretary is Cheng Lei, with 12,073 employees. The actual controllers are Cheng Sanrong and Jin Chengcheng.

The company has stakes in 12 subsidiaries, including Suzhou Zequan Automotive Electrical Technology Co., Ltd., Chongqing Huguang Automotive Electrical Co., Ltd., Kunshan Huguang Automotive Electrical Yizheng Co., Ltd., Kunshan Zequan Information Technology Co., Ltd., and Ningde Huguang Automotive Electrical Co., Ltd.

In terms of performance, the company’s revenue for 2022, 2023, and 2024 was 3.278 billion RMB, 4.003 billion RMB, and 7.914 billion RMB, respectively, with year-over-year growth of 33.91%, 22.11%, and 97.70%. Net profit attributable to the parent was 41.06 million RMB, 54.09 million RMB, and 670 million RMB, with YoY growth of 3988.03%, 32.17%, and 1139.15%. During the same period, the company’s asset-liability ratio was 66.87%, 72.42%, and 68.59%.

Regarding risks, Tianyancha data shows the company has 36 internal Tianyan risks, 11 surrounding risks, 41 historical risks, and 48 warning alert risks.