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5. Ningbo Joyson Electronic Corp. Business Report FY ended Dec. 2023

Ningbo Joyson Electronic Corp. Business Report FY ended Dec. 2023

-In 2023, the total life cycle value of new orders exceeded CNY 73 billion. Among the new business orders, orders related to New Energy Vehicles exceeded CNY 45 billion, accounting for more than 60%. The automotive electronics business achieved operating income of approximately CNY 17.2 billion, an increase of approximately 12% year-over-year (y/y). The automotive safety business achieved operating income of approximately CNY 38.6 billion, an increase of approximately 12% y/y.

New products

CoreFusion
-Black Sesame and Nesinext, a subsidiary of Ningbo Joyson Electronic Corp., co-introduced the CoreFusion open platform for cockpit-driving integration software.

Developed based on the Black Sesame Wudang C1296 intelligent automotive cross-domain computing chip, the platform provides developers with an efficient OS-level software base, a development tool chain, and a complete ecosystem.

The intelligent cockpit framework that supports the Black Sesame C1200-series chips; AP/CP middleware for intelligent driving; and automated adaptation tools developed by Nesinext help customers realize multi-domain integration and rapid mass production of cross-domain computing products. (From a Black Sesame press release dated April 25, 2024)

New airbag
-Joyson Electronic announced the co-development of a new airbag with Jiyue Auto, which has been applied to the Jiyue 01 SUV. Thanks to a range of innovations, this airbag has a special concave feature that enables it not to press against the center console display screen and the windshield when ejected to protect the occupants as much as possible. (From a Joyson Electronic press release dated November 23, 2023)

Smart cockpit human-machine interaction technology solutions
-Joyson Electronics announced that at the IAA Mobility 2023, it showcased its latest smart cockpit human-machine interaction technology solutions for future intelligent driving and the nDrive intelligent driving domain controller built on Horizon Robotics’ Journey series chips. The smart cockpit interaction technology solution combines a center console screen with a smart knob that can rotate 360 degrees, detach, and be placed anywhere on the screen, center console or door control module. With this solution, the interaction becomes efficient and convenient, which reduces the impact of touchscreen on driving safety. The knob offers a variety of options for exterior design and personalized customization. It can also be removed and used as decorative electronics. The nDrive, an intelligent driving domain controller built on Horizon Robotics’ Journey series chips, was also exhibited. It offers flexibility in adapting to the development and mass production of global platform vehicles. In collaboration with Horizon Robotics, Joyson Electronics showcased recent joint development results, including the nDrive M, a cost-effective intelligent driving domain controller supporting L2++ intelligent driving scenarios. (From a press release dated September 6, 2023)

nDriveH
-Joyson Electronic announced that its Joynext Technology subsidiary recently unveiled nDriveH, its first intelligent driving domain controller. The product adopts a driving-parking integration design with software and hardware deeply fused, which meets quality requirements for the mass production of autonomous driving, supports complex planning algorithms such as NOP as well as data fusion, and has passed ASIL-D functional safety certification. (From a Joyson Electronic press release dated June 8, 2023)

Strategic cooperation

Elektrobit
-Elektrobit Automotive GmbH announced that it formed a partnership with Nesinext (Ningbo Junlian Zhihe Information Technology Service Co., Ltd.,) a wholly-owned subsidiary of Ningbo Joyson Electronic Corporation. Through Nesinext, the two parties will launch Elektrobit software and engineering services for automakers and suppliers in China and co-develop more efficient, more convenient, and safer solutions for the Chinese market. The partnership will enable customers to develop vehicles with next-generation automotive architecture based on the AUTOSAR Classic and AUTOSAR Adaptive standards. (From an Elektrobit press release dated July 11, 2023)

Horizon
-Horizon Robotics announced the signing of a strategic cooperation agreement with Joynext Technology, a Joyson Electronic subsidiary. Horizon Robotics will provide intelligent automotive solutions based on “chips + reference algorithms + development tools”, including automotive-grade chips, in-vehicle computing platforms, visual perception, and human-computer interaction (HMI). Joynext Technology will, based on automotive-grade autonomous driving technology accumulation, work with Horizon Robotics to promote product development in such fields as ADAS (Advanced Driver Assistance System), autonomous driving, and intelligent HMI to accelerate the mass production of autonomous driving solutions. (From a Horizon Robotics press release dated May 19, 2023)

Orders

800V EV charging systems
-Joyson Electronics announced that its subsidiary has become the designated supplier for a major global automaker, supplying electronic parts for 800V EV charging systems of this automaker. The total value of the deal during the supply period is expected to be around CNY 13 billion. (From a press release dated April 13, 2023)

5G+C-V2X
-Joyson Electronics announced that its subsidiary, JOYNEXT Technology Co., Ltd. (JOYNEXT), has been nominated by a global automaker to supply intelligent connectivity products. JOYNEXT will provide this automaker with its 5G+C-V2X (technology for vehicles to exchange information with the outside world based on 5G network and unified communication standards) products for its New Energy Vehicle models. The total value of the order during the supply period is expected to be around CNY 1.8 billion. (From a press release dated March 2, 2023)

Exhibitions

-Joyson Electronic) announced that it exhibited multiple intelligent driving products at the SAIC VW Innovative Technology Exhibition, including software-hardware integration solutions such as the nDriveH series intelligent driving domain controllers and the JMT intelligent driving middleware, to showcase its intelligent driving product layout for future central domain control. The exhibited nDriveH series intelligent driving domain controllers, which are intelligent driving domain controllers based on the Qualcomm Snapdragon Ride 2^nd-generation chip platform and recently unveiled by Joyson Electronic, adopt a dual-chip structure design that enables omnidirectional perception through cameras and various LiDARs, and has passed ASIL-D functional safety certification. (From a Joyson Electronic press release dated June 14, 2023)

-Joyson Electronic) announced that Joyson Automotive Safety Systems, its subsidiary, held technology exhibitions at GAC and Honda with multiple cutting-edge safety products. At the GAC exhibition, Joyson Automotive Safety Systems exhibited conventional safety products such as safety belts, steering wheels, and airbags, as well as multiple industry-leading products related to electrification and New Energy transition, such as pyrotechnical battery disconnectors. At the Honda exhibition, the Joyson safety technology team shared a range of cutting-edge technologies and discussed technical difficulties and future development directions with the Honda technology R&D team. (From a Joyson Electronic press release dated June 8, 2023)

Patents

-As of the end of 2023, the company has more than 4,000 core patents worldwide.

R&D system

‐In 2023, in the field of intelligent driving domain control, the company will successively release the intelligent driving domain controller nDrive H based on Qualcomm Snapdragon Ride second-generation chip, establish strategic cooperation with Horizon and launch the cost-effective intelligent driving domain control product nDrive M based on Horizon Journey chip.
In the field of intelligent cockpit, the company continues to promote the research and development of intelligent empathetic cockpit with multi-screen linkage, multi-modal interaction and AI active interaction, continuously improve the driving user experience, and at the same time face the trend of the integration of next-generation intelligent cockpit and intelligent driving, integrating functions such as driver and passenger safety detection and parking assistance.

R&D expenditure

-As of the end of 2023, the total number of engineering and R&D personnel was 5,344, accounting for 12.16% of the total number of employees of the company.