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5. Tianhai Auto Electronics Group Co., Ltd. (THB Group) Business Report FY ended Dec. 2022

Tianhai Auto Electronics Group Co., Ltd. (THB Group) Business Report FY ended Dec. 2022

Orders

-The company announced that the company will provide smart fuse boxes and body domain controllers for the Changan Deepal SL03. In the Changan Deepal SL03, THB Group’s smart fuse boxes and body domain controllers not only assume the role of power distribution, but also control the functions of many auto parts. These products have introduced numerous novel technologies and innovative processes in R&D design, simulation testing, production and manufacturing. (From a press release dated August 7, 2022)

Capital investments

Investment in wire harness plant
-The company announced that the company broke ground on the third phase of its global advanced wiring harness industrial park in Hebi City, Henan Province. The project will be constructed according to Industry 4.0 standards. With a total investment of CNY 1 billion, the project is scheduled to be completed and put into operation by the end of September in 2022. It is estimated that the project will bring an increase of CNY 1.5 billion in the annual sales revenue. (From a press release dated April 6, 2022)

R&D Structure

-The Company has a total of six engineering research centers. These centers include its research institute, which is a national-level technology center, the Henan Province Automotive Electrical Engineering Technology Research Center, and the Henan Province Automotive Electronics Engineering Technology Research Center. It has R&D centers in Hebi, Shanghai, and Detroit, and a CNAS-accredited test center. The Company conducts R&D activities on connectors, wire harnesses, automotive electronics, harness equipment and components for clean-energy vehicles and exports products to countries and regions such as the Asia-Pacific region, the United States, Australia, and Europe.

-The Company established an R&D Center in Shanghai, which focuses on automotive electronics and power systems.

-The Company announced that the THB-SAIC Automotive Electronic and Electrical New Materials and Technologies Joint Laboratory was signed and inaugurated in Anting, Jiading District, Shanghai. Based on the SAIC Central Laboratory and the Henan New Energy and Intelligent Connected Automotive Electronic and Electrical Device Industry Research Institute led by THB Group, the Joint Lab will set up separate R&D institutions under the SAIC Quality Assurance Department Central Laboratory and the THB Group Industrial Research Institute. It will focus on cutting-edge new technologies, new processes and new materials in the automotive industry to achieve information sharing and coordinated development and jointly explore more comprehensive mobility products and service solutions for the future through reasonable allocation of superior scientific research talents and experimental equipment resources by both parties. (From a THB Group official WeChat account press release dated November 19, 2022)