NN, Inc. Advances Momentum with Continuation of its Joint Venture Partnership

Rhea-AI Summary

NN, Inc. (NASDAQ: NNBR) has secured Chinese government approval to continue its Joint Venture partnership with Weifu in Wuxi, China, marking a significant milestone in their 20-year collaboration. The JV, known as Wuxi Weifu Autocam, generates approximately $130 million in annual sales and employs over 550 people across three shifts.

The partnership structure remains with Weifu holding 51% ownership and NN maintaining 49%. The JV serves as a key supplier to major Chinese OEMs, including BYD, in the world's largest automotive market of 29 million passenger vehicles annually. NN's total China operations, including two wholly-owned businesses, generate over $200 million in profitable sales and employ more than 1,200 people across their automotive, industrial, and medical market segments.

Positive

• JV generates significant revenue of $130 million USD annually
• Strong presence in China, the world's largest auto market with 29M vehicles annually
• Total China operations deliver $200+ million in profitable sales
• Successful 20-year track record of consistent growth
• Current expansion underway due to new business wins

Negative

• Minority ownership position with 49% stake in the JV
• Heavy dependence on Chinese market and regulations

News Market Reaction

-2.61% 2.0x vol

2 alerts

-2.61% News Effect

-$3M Valuation Impact

$116M Market Cap

2.0x Rel. Volume

On the day this news was published, NNBR declined 2.61%, reflecting a moderate negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $116M at that time. Trading volume was elevated at 2.0x the daily average, suggesting increased selling activity.

Data tracked by StockTitan Argus on the day of publication.

NN Proudly Extends its Successful China Joint Venture

Wuxi Weifu Autocam team celebrates 20 year anniversary of the JV partnership

CHARLOTTE, N.C., Sept. 18, 2025 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, has announced that the Chinese government has approved the application for the continuation of its Joint Venture (“JV”) in Wuxi, China. This formal approval now extends the successful 20-year partnership between NN, Inc. and Weifu, a Chinese publicly traded company, on an ongoing basis.

Harold Bevis, Chief Executive Officer of NN, Inc. stated, "We are very proud of the JV, and together with our partner Weifu we have been able to strategically grow this business consistently over the 20-year partnership. The team is strong, growing and delivers high-level performance. The products of the JV are critical to vehicle performance and highly valued by our customers and local automotive OEMs. The China auto industry is a standout on the global stage and we are happy to play a key role in this attractive growth market through both our JV and our wholly-owned businesses. NN has more than $200 million of profitable sales across its three China businesses, which is our largest global automotive market. We look forward to many years of continued success and value creation in our China operations."

Known in the China automotive market as Wuxi Weifu Autocam, the JV business has demonstrated consistent growth, now delivering sales of approximately $130 million USD per year. The business supplies high-end parts to the China automotive market for both indigenous consumption and for key export markets. China is the largest auto market in the world at about 29 million passenger vehicles per year, compared to the US auto market of about 16 million cars per year. The Joint Venture Is a key supplier to all major OEMs in China, including BYD.

The business is currently going through an expansion, having won additional business and has recently outgrown its current building footprint, which employs over 550 people across 3 shifts.

Paul Wang, NN’s President of APAC operations serves as the General Manager of the Joint Venture, reporting to Harold Bevis, CEO of NN. Harold Bevis and NN’s Chief Operating Officer, Tim French, both serve on the Board of Directors of the Joint Venture company. The business is 51% owned by Weifu, and 49% owned by NN, Inc. NN also has a wholly-owned machined parts business in Wuxi, China and a wholly-owned stamped parts business in Foshan, China. Together, these three businesses serve the automotive, industrial and medical markets, deliver $200+ million in profitable sales, and employ over 1,200 employees.

Wuxi Weifu Autocam facility

About NN, Inc.
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com. 

Investor Relations: 
Joe Caminiti or Stephen Poe, Investors 
NNBR@alpha-ir.com  
312-445-2870 

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/66dba094-613d-44fd-b1aa-3115bcb324bb

https://www.globenewswire.com/NewsRoom/AttachmentNg/47961dfc-a3a1-416a-8bd2-61b321ed713a

FAQ

What is the ownership structure of NN Inc's joint venture with Weifu in China?

The joint venture is 51% owned by Weifu and 49% owned by NN, Inc. The partnership has been operating for 20 years and was recently approved for continuation by the Chinese government.

How much revenue does NN Inc (NNBR) generate from its China operations?

NN Inc generates over $200 million in profitable sales across its three China businesses, including $130 million specifically from the Wuxi Weifu Autocam joint venture.

How many employees does NN Inc have in its China operations?

NN Inc employs over 1,200 people across its China operations, with 550 people specifically working at the Wuxi Weifu Autocam joint venture across three shifts.

What markets does NN Inc serve in China?

NN Inc serves the automotive, industrial, and medical markets through its joint venture and two wholly-owned businesses in China.

Who manages NN Inc's joint venture operations in China?

Paul Wang, NN's President of APAC operations, serves as the General Manager of the Joint Venture, reporting to CEO Harold Bevis. Both Bevis and COO Tim French serve on the JV's Board of Directors.