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5. Changzhou Xingyu Automotive Lighting Systems Co., Ltd. Business Report FY ended Dec. 2022

Changzhou Xingyu Automotive Lighting Systems Co., Ltd. Business Report FY ended Dec. 2022

Strategic alliances

-The company signed a strategic cooperation agreement with Zvision Technologies Co., Ltd. (Zvision) to conduct strategic cooperation in such fields as R&D of automotive LiDARs and intelligent driving technologies, integration of automotive lighting products, and production and manufacturing. The companies will jointly carry out the innovation of product technologies and market expansion. (From a Xingyu press release dated May 23, 2023)

-The company signed a strategic cooperation agreement with Beijing Horizon Robotics Technology R&D Co., Ltd. (Horizon Robotics). Based on automotive chips and algorithms, the two companies set three business goals: compliance with vehicle regulations, mass production, and qualification for delivery. Horizon Robotics and Xingyu Lighting will jointly promote the mass production and commercialization of integrated driving and parking solutions, and strive to make this technology a standard feature of smart cars. In addition, Xingyu Lighting’s integrated driving and parking solution built on the Horizon Robotics Journey 3 chip has been ordered by a leading Chinese automaker, with mass production scheduled to begin in 2023. (From a press release dated February 15, 2023)

-The company announced that it signed a letter of intent for cooperation on smart onboard lighting business with Huawei Technologies Co., Ltd. (Huawei) in Dongguan, China. The two parties will jointly build end-to-end capabilities of smart automotive lighting from design to production and delivery, driving the development of the smart automotive lighting industry and building smart automotive lighting solutions that can secure a leading position in the industry. Moreover, the two companies will have other business cooperation in the field of smart onboard lighting. (From a press release dated February 17, 2022) 

Capital Investment Status

• Automotive Electronics and Lighting R&D Center has been partially put into use
• Construction projects such as the die manufacturing facility at the intelligent industrial park are ongoing.

R&D projects

• DLP (digital light processing) smart headlight based on DMD (digital micromirror device) technology
• Smart headlight module based on Micro LED technology
• Pixel display interactive light based on Micro LED/Mini LED technology
• Development of HCM/RCM/LCU (headlamp control module / rear lamp control module / light control unit) for car lamp controller
• Development of intelligent drive related products for driving and parking

R&D expenditure

Patents

-The company currently holds 978 valid patents; of which 78 are invention patents.

Investment in China

-Indie Microelectronics (Wuxi) Co., Ltd. (Indiemicro), a supplier of automotive-grade digital-to-analog mixed signal processing chips, announced the completion of a strategic financing round worth CNY 300 million. This round of financing was jointly led by Changan Auto-backed Anhe Capital, Dongfeng Motor-backed BOCOM Fund, and Xingyu Co., Ltd. Currently, the company is exploring drive chip products for drive-by-wire chassis and vehicle body domain control and launching solutions involving automotive driving safety and function control. (From an Indiemicro official WeChat account press release dated December 12, 2022)

Awards

-The Company announced that it received FAW-VW’s “Excellent Partner Award at the 2022 FAW-Volkswagen Supplier Partner Conference. Xingyu Lighting also received the "Overcoming Difficulties, Exemplar Award" from China FAW  at the China FAW’s 2022 Hongqi Supply Chain Partner Conference. (From press releases dated January 10 and January 11, 2022)