On December 23, Essence Fastening Systems (Shanghai) Co., Ltd. stated during an institutional research session that its automotive business has maintained steady growth this year. Revenue in the first three quarters showed rapid year-on-year growth, with profit levels also recovering.
It should be noted that disposal costs related to capacity adjustments in metal and plastic component operations temporarily impacted profits this year. Excluding this factor, core business profitability performed even better.
Looking ahead, the company anticipates further improvements in profitability and operational quality for its automotive segment by 2026, driven by ongoing optimization of production capacity, an increasing proportion of high-value-added products, and gradual effectiveness of cost-control measures.
In the medium to long term, Essence Fastening Systems plans to leverage its existing customer base and technological expertise to steadily expand operations, aiming for sustained growth in both revenue and profitability within the automotive sector.
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