2025

Tariff exemption dividend release, Jinrong Tianyu's Mexico base becomes a 'bridgehead' for the North American market

When the U.S. Customs and Border Protection (CBP) clarified in early 2025 that Mexican-made auto parts would be exempt from a 25% tariff, an industrial migration centered around "nearshoring" quietly accelerated. In this wave of supply chain restructuring, Tianjin Tianyu's (300988.SZ) Mexican base has become a key fulcrum for leveraging the North American market through localization.

(Reprinted from: Tongbi Finance) When US Customs clearly exempted Mexican-made automotive parts from a 25% tariff in early 2025, an industrial migration centered around "near-shore manufacturing" quietly accelerated. In this wave of supply chain restructuring, automotive parts Jinrong Tianyu (300988.SZ)'s Mexican base has become a key fulcrum for leveraging the North American market through localization. Circumventing Tariff Walls: A "Mexican Solution" for a Chinese Manufacturer

Annual report data shows that the company's 2024 overseas sales revenue (including exports and overseas factory revenue) reached 402 million yuan, a year-on-year increase of 69.2%.

Behind this explosive growth is Jinrong Tianyu's forward-looking layout for trade barriers. Unlike the traditional export model, the company uses its Mexican base to achieve "origin switching," cleverly avoiding tariff shocks.

This deep localization strategy enabled Jinrong Tianyu to gain entry into the supply chain of leading North American new

energy vehicle companies and become a parts supplier for a certain North American electric pickup truck platform. Four Continents, Five Bases: A Global Network to Counter Uncertainty

Opening up Jinrong Tianyu's global map, the Mexican base is just a microcosm of its internationalization strategy:

Thailand Factory: The Thai subsidiary serves as a strategic fulcrum in

Southeast Asia , radiating to surrounding countries, utilizing regional economic integration and cost advantages to provide efficient services for customers. India Factory: The Indian subsidiary closely follows the rapid growth needs of the Indian market, combining local human resources and policy support to meet the customized needs of emerging markets.

The effects of Jinrong Tianyu's internationalization strategy have gradually become apparent, becoming a new growth point for the company's revenue and profit contribution. In recent years, the company has continued to promote its international business layout in conjunction with its core customers' investment plans. Overseas factories have entered a steady stage of ramp-up production and have begun to become profitable. In 2024, the Thailand and India factories achieved a combined operating income and net profit of 141 million yuan and 8.67 million yuan, respectively, representing year-on-year increases of 37.18% and 443.05%, respectively. The company achieved overseas sales revenue (including exports and overseas factory revenue) of 402 million yuan, a year-on-year increase of 69.20%.

This multi-pronged approach has allowed the company to hedge against the risks of a single market. In 2024, goodwill impairment of 23.46 million yuan was recognized, and the company's non-net profit reached 84.25 million yuan.

Reporter's Observation From Tianjin to Mexico, Jinrong Tianyu's leap reflects the upgrading path of Chinese manufacturing: it is no longer simply a transfer of production capacity, but a systematic output of technical standards and supply chain management capabilities. When trade barriers are upgraded from cost variables to strategic variables, this combination of "hard technology + soft power" may be the true ticket to navigate

cyclical fluctuations. 波动的真正船票。

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Jinrong Carbon Reduction Declaration (2024 Annual)

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Jinrong Carbon Reduction Declaration (2024 Annual)

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Tianjin Jinrong Tianyu Precision Machinery Co., Ltd.

Address: No. 3, Chuangxin 4th Road, Haitai, Binhai High-tech Industrial Development Zone, Tianjin, China

Business Contact:

Electrical parts business operation:wangyan@tjjinrong.com

Auto parts business operation:wanglin@tjjinrong.com

Auto parts business procurement:kangwuyin@tjjinrong.com

Auto parts business procurement:sikai@tjjinrong.com

Human Resources:yuequn@tjjinrong.com

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