China's Ningbo Boway Alloy Materials plans to invest CNY335 million, or US$50.9 million, to expand its functional materials plant in northern Vietnam, according to a Shanghai Stock Exchange filing dated October 28, reported by The Investor on November 6, 2026.
Project scale
The project will be carried out by wholly owned subsidiary Bedra Vietnam Alloy Materials at Hoa Phu Industrial Park in Bac Ninh, where the existing plant covers 10 hectares. The expansion uses existing land and factory buildings.
- About 103 pieces of production and support equipment, including automated alloying systems, extrusion presses, heavy-duty hydraulic drawing machines and automated packaging lines.
- An additional 35,000 tons of annual capacity.
- Construction of about 18 months, with operations targeted from June 2028, subject to Chinese outbound investment approvals and Vietnamese investment registration.
Earlier, on October 27, Boway said it planned to inject up to US$50 million into its Vietnamese subsidiary, raising registered capital from US$50 million to US$100 million; this sum is part of the CNY335 million budget.
Strong results in Vietnam
In the first nine months of 2026, Bedra Vietnam posted revenue of CNY756.3 million (US$113 million) and net profit of CNY45.94 million (US$6.86 million), about 2.5 times its full-year 2025 profit. The Vietnam project is part of a CNY1.43 billion capex plan for four new plants, the other three of which are in China.
A signal for industrial FDI
A profitable existing investor choosing to reinvest signals confidence in Bac Ninh's manufacturing environment. Boway's alloys serve automotive, rail, shipbuilding, medical, electronics and 5G applications, sectors that help lift the value of Vietnam's supporting-industry supply chain.
Key takeaways
- Boway plans to invest US$50.9 million expanding its plant at Hoa Phu Industrial Park, Bac Ninh, adding 35,000 tons of annual capacity.
- Bedra Vietnam's nine-month 2026 net profit is about 2.5 times its full-year 2025 profit.
- The expansion is targeted to start operating in June 2028.