Jiangsu Leili Motor Co., Ltd: history, ownership, mission, how it works & makes money

From its 1993 founding to a 2009 Shenzhen listing under ticker 300660.SZ, Jiangsu Leili Motor has scaled from household-appliance beginnings into an innovation-driven electric motor manufacturer that in 2017 surpassed an annual production milestone of 1 million motors and by 2024 reported revenue of 3.52 billion CNY (up 14.38% year-on-year); the group operates three plants across roughly 200,000 sqm, employs about 4,487 staff, holds over 50 patents, and devoted ~10% of revenue to R&D in 2022 while maintaining ISO 9001 quality with a defect rate below 1%, and its market value reflected significant investor interest with market capitalizations cited at approximately 26.19 billion CNY (Oct 2025) and later ~22.40 billion CNY (Dec 2025) amid a reported 246.48% year growth in market cap, following an October 2025 family equity restructuring that left Leili Investment controlled by the Su family-Su Da holding 47.01% and Su Jianguo 3.99%-as the company pushes into micro motors, intelligent components and new fields like humanoid-robot components while monetizing via domestic and international motor sales, investment and asset management, and strategic partnerships.

Jiangsu Leili Motor Co., Ltd (300660.SZ) - Intro

• Founded: 1993 - entry into China's electric motor industry.
• Listed: 2009 on Shenzhen Stock Exchange (ticker 300660.SZ), enabling access to public capital.
• Product diversification: by 2015 added micro motors and intelligent components beyond traditional household appliance motors.
• Scale milestone: 2017 production surpassed 1 million motors annually.
• Revenue progression: exceeded 2.4 billion CNY in 2020; reached 3.52 billion CNY in 2024 (14.38% YoY growth from 2023).

• Core products: micro DC motors, brushless DC (BLDC) motors, fan and compressor motors for appliances, intelligent motor controllers and actuator modules.
• End markets: household appliances (washing machines, refrigerators, air conditioners), HVAC, automotive auxiliary systems, small industrial equipment.
• Distribution: direct OEM supply to appliance and HVAC manufacturers, components sales to tier-1 integrators, and aftermarket channels.

• Product design & R&D: develops motor architectures and control electronics; value captured via proprietary motor designs and controller firmware licensing to OEMs.
• Manufacturing scale: high-volume stamping, rotor/stator assembly and integrated controller mounting reduce unit costs; historically reached >1M units/yr by 2017.
• Revenue streams:
  • Component sales (motors & controllers) - primary revenue driver.
  • OEM contracts and long-term supply agreements - stable recurring sales and tooling amortization.
  • Aftermarket & replacement parts - margin-enhancing segment.
• Pricing & margins: pricing reflects scale, model mix (basic brushed vs higher-margin BLDC + intelligent modules), and contract terms; margin improvements driven by vertical integration and higher-value intelligent products.

• Status: publicly listed company (Shenzhen: 300660.SZ) with shares traded on the open market; capital structure supports expansion in manufacturing and R&D.
• Shareholder mix: combination of founding/management holdings, institutional investors and public float typical for A-share listed industrial manufacturers.
• Use of listing proceeds (post-2009): factory capacity expansion, automation investment, product diversification into micro motors and intelligent components.

• Manufacturing: in-house production lines for stators, rotors, winding, assembly and automated testing to support high-volume orders.
• Quality & certifications: production systems and QA processes tailored to OEM requirements for appliances and automotive subsystems.
• R&D focus: efficiency gains (motor design, loss reduction), miniaturization for micro-motors, embedded motor control and sensor integration to capture higher-value system sales.

• 2020 revenue: 2.4 billion CNY - reflects recovery and expansion in product mix.
• 2023 revenue (implied): ~3.079 billion CNY.
• 2024 revenue: 3.52 billion CNY - +14.38% vs. 2023.
• Volume scale: demonstrated capability to produce >1 million motors/year (2017) - foundation for margin leverage as intelligent product share grows.

Jiangsu Leili Motor Co., Ltd (300660.SZ): History

• Market capitalization (Oct 2025): ~26.19 billion CNY.
• 2024 revenue: 3.52 billion CNY, up 14.38% year-on-year.
• Market cap growth: increased 246.48% over the prior year.

• October 2025 equity restructuring of controlling shareholder Changzhou Leili Investment Group:
• Su Jianguo transferred 36.81% of shares to his son, Su Da.
• Hua Rongwei transferred 15.68% of shares to his son, Hua Sheng.

• Actual controllers updated to: Su Jianguo and Su Da, reflecting a generational shift in family control dynamics.
• Controlling shareholder remains Leili Investment despite share transfers within the family.

Jiangsu Leili Motor Co., Ltd (300660.SZ): Ownership Structure

• Mission and values: prioritize R&D-driven innovation, energy-efficient product design, customer satisfaction across household appliance segments, continuous process improvement, and ethical transparency.
• Core product lines: air-conditioning motors, washing-machine motors, refrigerator motors-designed for energy efficiency and long life.
• Quality & standards: ISO 9001 certified; defect rate <1% in 2022; ongoing manufacturing upgrades.

• R&D intensity: ≈10% of 2022 revenue invested in research and development to sustain product leadership and new technology adoption.
• Sustainability focus: integration of energy-efficient motor designs to reduce appliance energy consumption and meet tightening regulatory standards.

• How it makes money: primary revenue from manufacturing and selling electric motors and assembly components to appliance OEMs and aftermarket channels; margin support from proprietary designs and efficiency-focused product premiums.
• Operational strengths: low defect rates (<1%), ISO 9001 compliance, recurring OEM contracts, and steady R&D investment (≈10% of revenue in 2022) to sustain new product introductions and cost improvements.

Jiangsu Leili Motor Co., Ltd (300660.SZ): Mission and Values

• Three manufacturing plants in Jiangsu Province covering ~200,000 square meters, enabling large-scale production and modular line expansion.
• Approximately 4,487 employees, with a high concentration of skilled engineers and technicians focused on product development, process engineering and quality assurance.
• Annual production capacity of roughly 1,000,000 electric motor units, supported by CNC machining centers, automated assembly lines and testing rigs sourced from international suppliers.

• Holds over 50 patents related to motor design, thermal management, control algorithms and manufacturing processes-used to defend market position and enable licensing opportunities.
• Follows ISO 9001 quality management standards; reported a defect rate below 1% in 2022, reflecting tight quality controls and supplier oversight.
• Supply chain: partnerships with more than 100 suppliers for raw materials (copper, steel, magnets), electronic components and tooling-diversified to mitigate single-source risks.

• Production footprint (200,000 m²) and ~1 million-unit capacity deliver scale economics and flexibility for order mix shifts.
• Workforce of ~4,487 with concentrated engineering capabilities accelerates product development cycles and reduces time-to-market.
• Patent portfolio (50+) and ISO 9001 compliance lower competitive pressure and support premium pricing for specialized products.
• Supplier network of 100+ partners secures raw-material continuity and price negotiation leverage, while automated lines control labor-related variability.

• Scale-up of automated capacity to capture larger OEM contracts and EV-related demand.
• Monetizing patents via licensing and cross-licensing agreements.
• Strengthening vertical integration for critical inputs (magnets, power electronics) to protect margins.

Jiangsu Leili Motor Co., Ltd (300660.SZ): How It Works

• Core product families: air-conditioning motors, washing-machine motors, refrigerator compressors and small-appliance motors for vacuum cleaners, fans and kitchen appliances.
• End markets: white goods OEMs, aftermarket spare parts, automotive auxiliary motors, industrial equipment suppliers and medical device manufacturers.
• Sales footprint: nationwide distribution in China with expanding exports to Asia, Europe and other regions via direct sales and distributor networks.

• Product sales: sale of standard and customized motor units to OEMs and aftermarket channels - the largest single revenue source.
• Engineering & customization: higher-margin project contracts for bespoke motors and assemblies for appliance makers and EV/automotive suppliers.
• After-sales and spare parts: recurring revenue from replacement parts and service agreements.
• R&D-driven premium products: patented high-efficiency and low-noise motors that command price premiums and drive gross margin expansion.
• Investment & asset management: returns from group-level investments and financial asset operations that supplement operating profits.
• Strategic partnerships: co-development and licensing agreements that open new channels and revenue-sharing arrangements.

• R&D centers develop motor topologies, control electronics and noise/vibration solutions; sustained R&D investment enables new product generations.
• Automated manufacturing lines produce stators, rotors, housings and windings; process control ensures scale and consistent quality for OEM contracts.
• Quality and compliance teams certify motors to appliance and automotive standards (efficiency classes, EMC, safety), facilitating international sales.
• Sales & distribution combine direct OEM accounts, regional distributors and online channels for aftermarket parts.

• Product breadth: modular platform approach allows shared components across motor families, lowering unit costs and time-to-market.
• R&D and IP: proprietary motor designs and control algorithms reduce price competition and enable premium pricing for efficiency/noise advantages.
• Economies of scale: high-volume OEM contracts drive lower per-unit manufacturing costs and predictable production throughput.
• Diversified end markets: exposure to appliances, automotive and industrial sectors reduces cyclicality and smooths revenue streams.
• Financial activities: earnings from investment/asset management help stabilise cash flow and contribute to net income.
• Partnerships & co-development: strategic alliances with appliance manufacturers and Tier‑1 auto suppliers expand addressable markets and long-term contracts.

• Pricing: standard commodity motors face margin pressure, offset by higher-margin customized motors and smart motor modules.
• Cost drivers: raw materials (copper, steel, magnets) and energy costs are significant; process automation mitigates labor-cost volatility.
• Growth drivers: appliance replacement cycles, electrification trends in automotive, and demand for energy-efficient motors in commercial/industrial segments.

Jiangsu Leili Motor Co., Ltd (300660.SZ): How It Makes Money

• Core revenue streams: sales of industrial electric motors, servo systems, gearboxes, and customized motor solutions for OEMs.
• Adjacency growth: components and modules for humanoid robots and automated equipment, licensing/technical services, and after-sales maintenance.
• Strategic monetization: partnerships and equity cooperation to support overseas market entry and scale production capacity.

• Near-term drivers: ramping humanoid robot component sales, deeper OEM partnerships, and international expansion backed by strategic funds.
• Investor signals: substantial market-cap appreciation (+246.48% year-over-year) indicating strong market confidence in growth prospects.