Huayu Magna is a listed company, not a state-owned enterprise. Huayu Automobile System Co., Ltd, formerly known as Shanghai Automotive Industry Group Corporation, independently supplied auto parts. In May 2009, it was officially renamed Huayu Automobile System Co., Ltd. with stock code 60074 1.

Huayu Magna Co., Ltd. was established on March 8, 20 16, with its registered place at Jinshi Road, Baoshan District, Shanghai, and its legal representative is Zhang Haitao. The business scope includes the design, development, production, assembly, testing and sales of electric drive system assembly products and components.