Changzhou NRB Corporation Business Report FY ended Dec. 2022

Financial Overview

(CNY millions)

	FY ended Dec. 31, 2022	FY ended Dec. 31, 2021	Rate of Change (%)	Factors
Sales	1,487.85	1,622.34	(8.29)	-Affected by the adverse environment inside and outside China, the sharp rise in prices of raw material and export logistics had a major impact on bearing sales.
Operating income	(268.38)	(111.24)	-
Ordinary income	(266.99)	(80.93)	-
Net income	(249.07)	(81.24)	-

Orders

Date	OEM	Order content
Nov. 2022	Chinese New Energy Vehicle (NEV) manufacturers	Front hub unit assembly for New Energy Vehicles (NEVs)
Nov. 2022	Magna PT Powertrain (Jiangxi)	Rotor shaft
Nov. 2022	Chinese New Energy Vehicle (NEV) manufacturers	8 types of reduction gear dedicated bearings
Sep. 2022	Wuhu Acteco Powertrain	Deep groove ball and tapered roller bearing products for HEV transmission projects
Sep. 2022	New Energy Vehicle (NEV) manufacturers	Hollow motor shaft for 200KW, 165KW, 120KW oil-cooled motor projects
Aug. 2022	Geely	Everest project gear hub parts
Mar. 2022	HYCET Transmission Technology	Electric drives and hybrid systems for Great Wall Motor's DHT project.
Jan. 2022	BorgWarner	Double clutch modules, release bearings

Patents

-Through 2022, the company has 38 invention patents (26 for Guangyang site, 11 for Tianhai site, and 1 for Shiyi site), 341 utility model patents (209 for Guangyang site and 132 for Tianhai site) and 6 appearance patents (Tianhai site).

R&D Expenditure

(CNY millions)

	FY ended Dec. 31, 2022	FY ended Dec. 31, 2021	FY ended Dec. 31, 2020
R&D Expenditure	79.19	62.90	56.05
R&D expenses as percent of Sales (%)	5.32	3.88	3.91

-As of Dec. 31, 2022, the Company has 414 R&D staff, accounting for 11.79% 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.

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