Sinyuan ZM reports strong growth in magnesium alloy die-casting revenue for 2024
2025-04-09 11:45:29 [Print]
In 2024, Ningbo Sinyuan ZM Technology Co., Ltd. achieved a total operating revenue of RMB408.6 million (USD55.59 million), a year-on-year increase of 16.01%, according to the company's annual report.
During the year, Sinyuan ZM produced 6.885 million units of automotive part, up by 0.53% YoY, while sales volume reached 6.542 million units, down by 2.11% YoY.
The company is mainly engaged in the research, production, and sales of precision magnesium and aluminum alloy die-cast products, as well as associated die-casting molds. In 2024, revenue from magnesium alloy die-cast parts reached approximately RMB284 million (USD38.64 million), representing an significant year-on-year increase of nearly 33.6% and accounting for 70.05% of the company's total revenue. Aluminum alloy die-cast parts generated about RMB102 million (USD13.88 million) in revenue, contributing 25.14% to the total.
Throughout the year, the company secured 23 new projects spanning sectors such as new energy vehicles and smart cockpits, with both the number and scale of projects on the rise. The company's 16.01% revenue growth was largely driven by three product categories: new energy vehicle powertrain components, automotive display system parts, and center console components, all of which grew significantly faster than the overall average. As these new projects continue to ramp up, the company's capacity utilization rate is steadily increasing, and economies of scale are expected to be further realized.
During the year, Sinyuan ZM produced 6.885 million units of automotive part, up by 0.53% YoY, while sales volume reached 6.542 million units, down by 2.11% YoY.
The company is mainly engaged in the research, production, and sales of precision magnesium and aluminum alloy die-cast products, as well as associated die-casting molds. In 2024, revenue from magnesium alloy die-cast parts reached approximately RMB284 million (USD38.64 million), representing an significant year-on-year increase of nearly 33.6% and accounting for 70.05% of the company's total revenue. Aluminum alloy die-cast parts generated about RMB102 million (USD13.88 million) in revenue, contributing 25.14% to the total.
Throughout the year, the company secured 23 new projects spanning sectors such as new energy vehicles and smart cockpits, with both the number and scale of projects on the rise. The company's 16.01% revenue growth was largely driven by three product categories: new energy vehicle powertrain components, automotive display system parts, and center console components, all of which grew significantly faster than the overall average. As these new projects continue to ramp up, the company's capacity utilization rate is steadily increasing, and economies of scale are expected to be further realized.
Magnesium Alloy AZ91D FOB China
Unit:USD/mt
China magnesium alloy producers' sales to production ratio statistics by month
Unit: %
