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Tianhai Auto Electronics Group Co., Ltd. (THB Group) Business Report FY ended Dec. 2024
Strategic cooperation
-THB Group signed a tripartite cooperation agreement with NIO and Hefei University of Technology (HFUT) for subject research on new electronics technologies and applications based on new automotive electronic and electrical architecture. The THB Industrial Research Institute hopes to establish an in-depth and all-round partnership with NIO and HFUT. They will explore new technologies and applications, promote deep IUR (Industry-University-Research) integration, accelerate the cultivation of new quality productive forces, and motivate momentum for development. (From a THB Group press release dated March 15, 2024)
-THB Group announced that it signed a memorandum of cooperation with BASF. BASF has dedicated technologies in the development, manufacture and commercialization of chemical materials, especially polyurethane, polyamide, and polybutylene terephthalate (PBT) for a wide range of applications in the automotive sector. The two companies will develop strategic cooperation around the application of new chemical materials in the field of automotive electronics. (From a press release dated March 15, 2023)
New projects/companies
-The first phase of the THB Group High-end Wiring Harness Project, located in the Chengguan Park of Shucheng Economic Development Zone, Anhui Province, has been put into production. After reaching full production, it is expected to achieve sales revenue of CNY 20 billion. Anhui Tianhai Electronics Co., Ltd. was established in November 2022. It mainly manufactures and sells automotive components, including automotive connectors, central electrical junction boxes, automotive wiring harnesses, key components for New Energy Vehicles, and automotive electronic products. The products are supplied to manufacturers based inside and outside China for conventionally fueled vehicles and New Energy Vehicles (BEVs, PHEVs, and FCEVs). (Excerpt from multiple media reports on February 23, 2024)
-THB Group announced the signing of a cooperation agreement with the Guangfeng District People’s Government of Shangrao City of Jiangxi Province. The group plans to invest CNY 5 billion in building a high- and low-voltage harness and key NEV parts project with an annual capacity of 300,000 sets in Guangfeng District. Located in the easternmost part of Jiangxi and close to NEV industrial clusters in Zhejiang and Fujian, Guangfeng District can provide a good development platform for the group. (From a THB Group press release dated January 6, 2024)
-THB Group announced that its subsidiary, Changchun Tianhai Electronics Co., Ltd., opened for business. THB Group started establishing this subsidiary in 2022. The new subsidiary will work together with Liaoning Tianhai Electric Co., Ltd. and Harbin Tianhai Electronics Co., Ltd. to support the automakers in the entire Northeast China region and improve THB Group’s parts supply capabilities. (From a press release dated March 30, 2023)
-THB Group announced that it has started the construction of an electronic industrial park in Shucheng County, Lu'an City, Anhui Province. With a total investment of CNY 3.2 billion, the industrial park will be constructed in accordance with Industry 4.0 standards and begin production in December 2023. Upon the completion of all construction, it will deliver an annual output value of CNY 3 billion. The facility will produce wiring harnesses to supply EV brands such as NIO. (From a press release dated March 26, 2023)
Exhibitions
-THB Group announced that it will participate in electronica China 2023 to be held from July 11 to 13 in Shanghai, where it will set up six exhibition areas for its New Energy products, conventional connectors, board-to-board connectors, high-speed connectors, automotive electronics, raw materials, wiring harness accessory modules, and automotive systematic solutions. (From a THB Group press release dated July 6, 2023)
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 (Tianhai Xuecheng Automotive Electronic Engineering R&D (Shanghai) Co., Ltd.), which focuses on automotive electronics and power systems.
-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.
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