AAPICO Hitech vs Ningbo Jifeng Auto Parts: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

AAPICO Hitech Public Company Limited (AH.BK)

Q3 202620 Jul – 2 Oct 2026

▲3

Thai EV parts push and profit jump offset weak auto output

Chinese EV investment wave Chinese EV makers like Xiaomi and Changan are expanding in Thailand, which should boost demand for AAPICO's auto parts. More local production means more orders for Thai suppliers, supporting future revenue growth.
This is a new demand driver that directly benefits AH as an auto parts maker.
US tariff exemption for auto parts New US tariffs under Section 301 hit many Thai exports, but auto parts like AAPICO's are exempt because they fall under Section 232. This means AH avoids a cost that pressures other exporters, keeping its US sales competitive.
It clarifies that AH is shielded from a negative tariff event, a positive relative to peers.
EV excise tax favors local parts Thailand's EV board approved a three-tier excise tax that rewards carmakers using high local content. This encourages EV makers to build in Thailand and buy Thai parts, a medium-term boost for AAPICO, though details and rates are still unclear.
It is a new regulation that could expand AH's customer base and parts demand.
Profit surge but parts revenue falls AAPICO's 2025 net profit jumped 81% to 195 million baht on better margins and lower costs, even as auto parts revenue fell 4.7% due to weak Thai vehicle production. The profit recovery is margin-driven, not sales-driven, and floods now threaten Q4 output.
It shows the core earnings story: strong profit but underlying parts demand is soft and flood risk looms.

August 202620 Jul – 2 Oct 2026

▲3

Thai EV parts push and profit jump offset weak auto output

Chinese EV investment wave Chinese EV makers like Xiaomi and Changan are expanding in Thailand, which should boost demand for AAPICO's auto parts. More local production means more orders for Thai suppliers, supporting future revenue growth.
This is a new demand driver that directly benefits AH as an auto parts maker.
US tariff exemption for auto parts New US tariffs under Section 301 hit many Thai exports, but auto parts like AAPICO's are exempt because they fall under Section 232. This means AH avoids a cost that pressures other exporters, keeping its US sales competitive.
It clarifies that AH is shielded from a negative tariff event, a positive relative to peers.
EV excise tax favors local parts Thailand's EV board approved a three-tier excise tax that rewards carmakers using high local content. This encourages EV makers to build in Thailand and buy Thai parts, a medium-term boost for AAPICO, though details and rates are still unclear.
It is a new regulation that could expand AH's customer base and parts demand.
Profit surge but parts revenue falls AAPICO's 2025 net profit jumped 81% to 195 million baht on better margins and lower costs, even as auto parts revenue fell 4.7% due to weak Thai vehicle production. The profit recovery is margin-driven, not sales-driven, and floods now threaten Q4 output.
It shows the core earnings story: strong profit but underlying parts demand is soft and flood risk looms.

Latest20 Jul – 2 Oct 2026

▲3

Thai EV parts push and profit jump offset weak auto output

Chinese EV investment wave Chinese EV makers like Xiaomi and Changan are expanding in Thailand, which should boost demand for AAPICO's auto parts. More local production means more orders for Thai suppliers, supporting future revenue growth.
This is a new demand driver that directly benefits AH as an auto parts maker.
US tariff exemption for auto parts New US tariffs under Section 301 hit many Thai exports, but auto parts like AAPICO's are exempt because they fall under Section 232. This means AH avoids a cost that pressures other exporters, keeping its US sales competitive.
It clarifies that AH is shielded from a negative tariff event, a positive relative to peers.
EV excise tax favors local parts Thailand's EV board approved a three-tier excise tax that rewards carmakers using high local content. This encourages EV makers to build in Thailand and buy Thai parts, a medium-term boost for AAPICO, though details and rates are still unclear.
It is a new regulation that could expand AH's customer base and parts demand.
Profit surge but parts revenue falls AAPICO's 2025 net profit jumped 81% to 195 million baht on better margins and lower costs, even as auto parts revenue fell 4.7% due to weak Thai vehicle production. The profit recovery is margin-driven, not sales-driven, and floods now threaten Q4 output.
It shows the core earnings story: strong profit but underlying parts demand is soft and flood risk looms.

Ningbo Jifeng Auto Parts Co (603997.CG)

Q3 202614 Jul – 24 Sep 2026

▲3

Jifeng's profit surge and two big seat orders drive the story

First-half profit more than doubled Jifeng expects first-half 2026 net profit of 332–398 million yuan, up 116%–159% from a year earlier. The seat business swung from loss to profit and revenue more than doubled, showing the core business is now making real money — a fundamental positive for the stock.
This is the core earnings driver behind the company's improved value.
New 2.12 billion yuan seat assembly order A controlled subsidiary won a passenger car seat assembly project from a major automaker, worth about 2.12 billion yuan over its four-year life, with production starting June 2027. It adds future revenue visibility and confirms Jifeng is winning more seat business.
A concrete new order win that supports future revenue growth.
9.2 billion yuan Grammer Harbin nomination In late September, subsidiary Grammer Harbin secured a seven-year seat assembly nomination from a major OEM, worth about 9.2 billion yuan, with production from May 2028. This is the largest order in the period and strengthens the long-term growth story.
The biggest new order of the period, materially boosting long-term revenue outlook.

August 202614 Jul – 24 Sep 2026

▲3

Jifeng's profit surge and two big seat orders drive the story

First-half profit more than doubled Jifeng expects first-half 2026 net profit of 332–398 million yuan, up 116%–159% from a year earlier. The seat business swung from loss to profit and revenue more than doubled, showing the core business is now making real money — a fundamental positive for the stock.
This is the core earnings driver behind the company's improved value.
New 2.12 billion yuan seat assembly order A controlled subsidiary won a passenger car seat assembly project from a major automaker, worth about 2.12 billion yuan over its four-year life, with production starting June 2027. It adds future revenue visibility and confirms Jifeng is winning more seat business.
A concrete new order win that supports future revenue growth.
9.2 billion yuan Grammer Harbin nomination In late September, subsidiary Grammer Harbin secured a seven-year seat assembly nomination from a major OEM, worth about 9.2 billion yuan, with production from May 2028. This is the largest order in the period and strengthens the long-term growth story.
The biggest new order of the period, materially boosting long-term revenue outlook.

Latest14 Jul – 24 Sep 2026

▲3

Jifeng's profit surge and two big seat orders drive the story

First-half profit more than doubled Jifeng expects first-half 2026 net profit of 332–398 million yuan, up 116%–159% from a year earlier. The seat business swung from loss to profit and revenue more than doubled, showing the core business is now making real money — a fundamental positive for the stock.
This is the core earnings driver behind the company's improved value.
New 2.12 billion yuan seat assembly order A controlled subsidiary won a passenger car seat assembly project from a major automaker, worth about 2.12 billion yuan over its four-year life, with production starting June 2027. It adds future revenue visibility and confirms Jifeng is winning more seat business.
A concrete new order win that supports future revenue growth.
9.2 billion yuan Grammer Harbin nomination In late September, subsidiary Grammer Harbin secured a seven-year seat assembly nomination from a major OEM, worth about 9.2 billion yuan, with production from May 2028. This is the largest order in the period and strengthens the long-term growth story.
The biggest new order of the period, materially boosting long-term revenue outlook.