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5. Anhui ARN Group Co., Ltd. Business Report FY ended Dec. 2022

Anhui ARN Group Co., Ltd. Business Report FY ended Dec. 2022

Joint venture to be established with TPR Co., Ltd.

-TPR announced that it will establish a joint technology center with ARN in Anqing City, Anhui Province. Aiming to establish in March 2022 on the premise of obtaining approval from the authorities. The registered capital will be 65 million yuan, of which TPR and ARN will each invest 50%. Both companies have conducted research and development at multiple joint venture manufacturing companies, but will establish a joint venture technology center for the purpose of unifying their research and development functions and making efficient and prompt technical proposals. Engineers from both companies will be dispatched to the center to develop new technologies and products for new energy vehicles (NEVs) and CASE in China, and provide them to group companies of both companies.. The name of the joint venture technology center is TPR ARN (Anhui) New Energy R&D Co., Ltd. (TANE). (From a press release on February 9, 2022）

New project

-In February 2023, the DLC-coated piston ring production line and smart factory renovation project were completed at the Company’s subsidiary, Anqing Art TP Pistons Co., Ltd. (AAT) (From a press release dated February 25, 2023)

Exhibition

-At the 17th Automechanika Shanghai actually held in Shenzhen, Anhui ARN Group Co., Ltd. (ARN Group) presented key engine components such as DHF, DuroGlide, and GDC for piston rings, New Energy Vehicle (NEV) parts such as motor shafts, bus bars, snap rings, cooling tubes, and solenoid valves, as well as special steel profiles such as ventilation slots and filter wires. (From a press release dated February 23, 2023)

Strategic cooperation

Signed "Industrial Networking" strategic cooperation agreement with Huawei
-On November 19, 2021, the company and Huawei reached an agreement on digital transformation ideas and long-term planning, and signed a strategic cooperation agreement on "Industrial Networking". The two sides will combine their capabilities and practical experience in industrial digital transformation to jointly build a new industrial network platform and provide industrial software services to accelerate the digital transformation of enterprises. This cooperation will help to improve production efficiency and reduce energy consumption. (From a press release on November 24, 2021）