Shineray Group: the group, its brands and who controls it
Facts checked
- Private
Shineray Group was founded in Chongqing in 1997 by Gong Daxing and started in motorcycles, adopting the Shineray brand in 2002 and moving into cars from 2007. It also makes agricultural machinery, engines and general power equipment, and runs financial leasing and mobility services.
Its best-known move abroad was buying the dormant Italian marque SWM in 2014 and restarting production at the former Husqvarna plant at Biandronno, near Varese, under the engineer Ampelio Macchi. SWM became both a motorcycle brand made in Italy and, from 2016, a car brand for the Chinese market, where it is sold as 斯威.
The group reports output value of about RMB21 billion and more than 6,000 patents, with plants in Chongqing, Italy and Vietnam and motorcycle exports to more than 80 countries. Alongside Shineray and SWM it has taken on the Jinbei light commercial vehicle business.
Key facts
| Chinese name | 鑫源 “shin-yoo-EN” 鑫 'abundant wealth', a character written as three golds, + 源 'source, spring' |
|---|---|
| Legal name | Shineray Group Co., Ltd. |
| Ownership | Private |
| Founded | 1997 by Gong Daxing |
| Headquarters | Chongqing, Chongqing, China |
| Vehicles | Motorcycles, Cars and Commercial vehicles |
| Listings | Not listed |
| Founded | 1997, Chongqing, by Gong Daxing |
| Output value | About RMB21 billion, with more than 6,000 patents and over 2,000 R&D staff |
| SWM | Italian motorcycle marque acquired in 2014; production restarted at the former Husqvarna plant in Biandronno, Varese |
| SWM in China | SWM entered the Chinese passenger car market in 2016 |
| Manufacturing footprint | Plants in Chongqing, Italy and Vietnam |
Ownership tree
- Shineray Group (group)
- SWM (brand) Held at 100%
Who controls Shineray Group?
Gong Daxing controls Shineray Group since 1997.
Gong Daxing founded Shineray Group in 1997 and chairs it. The group is unlisted and no personal percentage was published in the sources we read.
Brands
| Brand | Held | Origin | Founded | Models | Markets |
|---|---|---|---|---|---|
| 斯威SWM | directly | Italy | 1971 | 0 | 6 |
Shineray Group: questions people ask
- Who owns SWM?
- The Italian marque SWM has been owned since 2014 by Shineray Group, a private Chongqing company founded in 1997 by Gong Daxing. Motorcycles are still assembled in Italy at Biandronno, near Varese.
- Is Shineray a state-owned company?
- No. It is privately held and controlled by its founder Gong Daxing, and it is not listed on a stock exchange.
- What does Shineray make?
- Motorcycles, cars and light commercial vehicles, agricultural machinery, engines and general power equipment, sold under the Shineray, SWM and Jinbei names.
Related
Sources for Shineray Group
- Shineray Group, Shineray Group corporate site. Read . Founding year 1997, output value, patents, manufacturing bases including Italy and Vietnam.
- Wikipedia, SWM (motorcycles). Read . 1971 founding in Milan, 1984 liquidation, 2014 revival by Shineray at the ex-Husqvarna Biandronno plant.
- Shineray Group (as summarised in company directories), Shineray Group company profile. Read . Founder name, 2002 adoption of the Shineray motorcycle brand, 2007 start of car production, SWM's 2016 entry to the Chinese car market.