History
Early years and expansion
A predecessor of Hualing Xingma built its plant in 1970 and initially produced building materials machinery. From the 1980s onwards, it mainly produced cement trucks and mixer trucks. In 1999, the company was incorporated as Anhui Xingma Automobile Co., Ltd. and was listed on the Shanghai Stock Exchange in April 2003. In the same year of its listing, it signed a long-term technical cooperation agreement with Mitsubishi Fuso of Japan, entering into the heavy truck production. In 2004, the first heavy-duty vehicle chassis was off the assembly line. In 2005, the company started exporting its heavy trucks to overseas markets. In 2008, the second-generation heavy trucks from the company were launched. In March 2011, Anhui Hualing Automobile Co., Ltd. became a company's subsidiary through an asset restructuring. In 2012, after a reincorporation, the company adopted its present name. That same year, it started to produce and sellFinancial difficulties and failed acquisition by CHTC
The company was affected by the 2008 financial crisis. It had a net loss in 2014 and 2015, as demand for its products was low. It made a profit in 2016 through investments from the shareholders, to avoid a market rule that delisted companies having loses for three years in a row. In late 2015, the company was part of a failed asset reorganisation through Anliang Xiushan Construction Corporation. In June 2017, it was announced that the Chinese state-owned conglomerateAcquisition by Geely
In late July 2020, it was announced that the Xingma Group had agreed to transfer a 15.24% stake of its shares to Geely New Energy Commercial Vehicle Group, a wholly owned subsidiary of Geely Holdings. After the transaction, Geely New Energy would become the ''de facto'' controlling shareholder of Hualing Xingma.Operations
The company has five production subsidiaries: Anhui Hualing Automobile Co., Ltd., Anhui Xingma Automobile Co., Ltd., Anhui Xingkaima Power Co., Ltd., Anhui Hualing Axle Co., Ltd. and Anhui Forma Automobile Parts (Group) Co., Ltd. The company's main plant has 400,000 m² and the capacity to assemble 100,000 heavy trucks, 50,000 heavy special vehicles and 50,000 engines per year. The company has a research and development operation. CAMC-bagded products are exported to Eastern Europe, North Africa, Southeast Asia and South America, among other markets. Hualing Xingma maintains technical partnerships with Mitsubishi Fuso and Isuzu of Japan.References
{{Automotive industry in China Motor vehicle manufacturers of China Companies listed on the Shanghai Stock Exchange Vehicle manufacturing companies established in 1999 Chinese companies established in 1999