The Ranking List of the Top Chinese Automobile Supply Chain Companies by R&D Spending released

Editing by Greg Gao

JW Insights released the Ranking List of Top Chinese Automobile Supply Chain Companies by R&D Spending in Q1~Q3 2021 on December 18 in Beijing. 

The List covered a total of 108 automotive supply chain firms that are listed on Chinese A-share stock markets. Their products cover electronic control, sensors, motor and power devices, passive components, power batteries, battery materials, cockpits and networking, automotive lighting, and automotive parts.

The R&D expenses of the 108 companies totaled RMB38.241 billion($6 billion), a year-on-year increase of 39.25%, and the total R&D expenses accounted for 5.42% of their overall operating income.

Among the 108 companies in the Ranking List, there are 8 with R&D expenses exceeding RMB1 billion($157 million). The top two companies are BYD and CATL, with their spending accounting for 3.60% and 6.26% of operating income, respectively.

The top ten among the top 108 are:

BYD    比亚迪  RMB5.2 billion($820 million)

CATL   宁德时代  RMB4.6 billion($720 million)

Joyson Electronic   均胜电子  RMB1.7 billion($270 million)

Sunwoda Electronic   欣旺达  RMB1.6 billion($250 million)

Will Semiconductor   韦尔股份  RMB1.5 billion($240 million)

Universal Scientific Industrial 环旭电子  RMB1.1 billion($170 million)

Inovance   汇川技术  RMB1.1 billion($170 million)

Zhuzhou CRRC Times Electric 时代电气  RMB 1.04 billion($160 million)

Yiwei Lithium   亿纬锂能  RMB 924 million($145 million)

NavInfo    四维图新  RMB 868 million($136 million)

Among the companies, 97 companies have increased their R&D spending yearly, and 14 companies have a more than 100% growth rate. Hunan Changyuan Lico(长远锂科), Semcorp (恩捷股份), Zhuhai Enpower Electric(英搏尔) had their growth rate exceeding 200%, reaching 230.28%, 225.10%, and 212.34% respectively.

JW Insights, the leading Chinese information and consulting services on semiconductor and ICT industries, tracks the listed Chinese companies providing semiconductor and related services, categorizes and researches them from eight major benchmarks - market value, business revenue, profit, R&D expenditure, per capita revenue generation, per capita profitability, and average salary and P/E ratio.

The following is the full Ranking List of the 108 companies in Chinese.