Xusheng Group Accelerates Global Footprint with Lightweight Components for NEVs

China’s Xusheng Group, headquartered in Ningbo, Zhejiang Province, is a manufacturer of lightweight components for new energy vehicles (NEVs), specializing in the R&D, production, and sales of aluminum and magnesium alloy parts. Driven by the rising demand for vehicle lightweighting, the company's automotive component revenue reached a record high of 4.24 billion CNY in 2023. However, amid intensifying competition in the Chinese NEV market, cost-reduction pressure from OEMs escalated. As a result, automotive component revenue for FY 2025 declined 4.5% YoY to 3.61 billion CNY, and the operating profit margin dropped to 9.3%, its lowest level since 2021.