Zhejiang Songyuan Automotive Safety Systems Co., Ltd.
松原安全
300893
Shenzhen Stock Exchange
Company Profile
Since its establishment, the company has always been deeply involved in the field of passive safety systems for automobiles, accumulating rich experience in the research and production of automotive safety products. It is currently a leading enterprise among domestic brands of passive safety systems for automobiles. After twenty years of continuous independent research and development, as well as long-term cooperation with vehicle manufacturers, the company has broken through the long-term technological monopoly of foreign brands and established good and long-term cooperative relationships with mainstream domestic automobile brand vehicle manufacturers, helping to promote domestic localization. The automotive safety system industry has high barriers, and the global market share of automotive safety systems is relatively concentrated in foreign brands, presenting an oligopoly market structure in the industry. In 2026, the company continues to increase research and development investment and technological innovation, relying on advantages such as high cost-effectiveness, product compatibility, and service efficiency flexibility, to achieve breakthroughs in a point-to-point manner. The three passive safety system modules, seat belt assembly, airbag, and steering wheel, are advancing side by side, providing customers with a complete set of passive safety system solutions.
Full description
The company adheres to focusing on its main business. In the 2025, the company achieved an operating income of 2.678 billion yuan, a year-on-year increase of 35.88%; the net profit attributable to shareholders of the listed company was 366 million yuan, a year-on-year increase of 40.70%.The passenger car market has remained stable, providing a good external foundation for the company's rapid development. The high cost-effectiveness of the company's products is in line with the cost reduction demands of the entire vehicle end, and the trend of domestic substitution is becoming increasingly evident. 2. The company has sufficient orders on hand, a high rate of self-made parts, economies of scale, and optimized product structure, which have contributed to maintaining a high level of overall profitability. 3. The airbag and steering wheel assembly products are currently in the stage of climbing and increasing their contribution. 4. In recent years, the company has actively promoted lean production management by learning from the production management experience of advanced enterprises, which has had a certain impact on the company's performance by reducing costs and increasing efficiency. The company is a leading enterprise in the field of passive safety systems for domestic independent brand automobiles. With years of accumulated comprehensive competitive advantages, the company has established a good brand image in multiple mainstream domestic vehicle manufacturers and has been awarded supplier honors by multiple customers. At the same time, the company is the chairman unit of the Body Accessories Branch of the China Association of Automobile Manufacturers. With the development of Chinese independent brand vehicle manufacturers and the localization of Chinese automotive industry components, the company has broken through the long-term technological monopoly of foreign brands through years of continuous independent research and development and long-term cooperation with vehicle manufacturers, achieving the localization of automotive safety system products. The company has also expanded from independent automotive brands to joint ventures and foreign brands, and has achieved certain results. Thanks to the optimization of customer structure and the provision of high-quality passive safety overall solutions for customers, the company will stand out in the global automotive passive safety system industry with product cost advantages, first mover advantages, and overall supporting advantages in the future.