Changzhou NRB Corporation Business Report FY ended Dec. 2021

Financial Overview

(CNY millions)

	FY ended Dec. 31, 2021	FY ended Dec. 31, 2020	Rate of Change (%)	Factors
Sales	1,622.34	1,434.26	13.11	-Overseas sales of bearings, synchronizers, and other products increased in line with the gradual recovery of the global automotive market.
Operating profit	(111.24)	24.37	-
Ordinary profit	(80.93)	65.82	-
Net profit	(81.24)	50.36	-

Asset integration

-In order to consolidate the internal resources of the electronics business unit and reorganize the industrial chain, the company has integrated and reorganized the assets of its wholly owned subsidiaries, Yangzhou Guangyang Siflex Intelligent Technology Co., Ltd., Weihai Siflex Electronic Co., Ltd. and Weihai Core Tech Electronics Co., Ltd. (From a press release dated April 30, 2021)

New company

-The Company established Yangzhou Guangyang Siflex Intelligent Technology Co., Ltd. in Yangzhou City on January 25, 2021 with a registered capital of CNY 200 million. The company is mainly engaged in the manufacture of electronic components and electromechanical components equipment, and intelligent control system integration. (From a press release dated January 27, 2021)

Orders

Date	OEM	Order content
Mar. 2021	BYD	Rear wheel hub bearing unit assembly products for Han/Song/Qin platform models.
Mar. 2021	FAW-VW	Wheel bearings for Magotan.
May 2021	Dalian Volkswagen	Bearing products for DSG-DQ200 automatic transmission system.
Jun. 2021	SAIC VW	Entry NB model wheel bearings
Nov. 2021	Li Auto	Wheel bearings
Dec. 2021	Xpeng	Bearing spacers and related products for F30
	HYCET Transmission Technology	Clutch sliding sleeve products
	Leapmotor	Oil-cooled electric drive systems and range extenders
Jan. 2022	BorgWarner	Double clutch modules, release bearings
Mar. 2022	HYCET Transmission Technology	Electric drives and hybrid systems for Great Wall Motor's DHT project.

Patents

-Through 2021, the company has 39 invention patents (11 for Guangyang base, 23 for Tianhai base and 5 for Shiyi base), 296 utility model patents (188 for Guangyang base and 108 for Tianhai base) and 6 appearance patents (Tianhai base).

R&D Expenditure

(CNY millions)

	FY ended Dec. 31, 2021	FY ended Dec. 31, 2020	FY ended Dec. 31, 2019
R&D Expenditure	62.90	56.05	54.02
Ratio of R&D expenses to Sales (%)	3.88	3.91	4.13

-As of Dec. 31, 2021, the Company has 389 R&D staff, accounting for 14.94% of the total staff.

R&D Facilities

-The Company has R&D centers in Changzhou (170 R&D personnel) and Tianjin (120 R&D personnel), as well as the Jiangsu Provincial High Precision Bearing Engineering Technology Research Center, and a nationally accredited research facility.