China Auto Electronics Group Limited (THB Group) Business Report FY ended Dec. 2017
-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. The Company conducts R&D activities on connectors, wiring harnesses, auto electronics, harness equipment and parts for clean-energy vehicles.
-The Company established a R&D Centre in Shanghai, which focuses on automotive electrical and electronics distribution system.
Investment in China
-The Company broke ground for the THB Industrial Park, its new production base in the Hebi National Economic and Technological Development Zone. CNY 2 billion is expected to be invested in this park, which will cover 200,000 square meters and have plants, offices, a research center, and other facilities. The manufacturing base will produce adaptive front-lighting systems, intelligent electric boxes, motors and motor control systems for new energy vehicles, electronic control units, and 5 million kilometers of low pressure wires for new vehicles. This project will be carried out in two phases, with the first phase scheduled to be completed in December 2017 and the second phase at the end of June 2018. The park is expected to create 20,000 jobs and generate CNY 10.06 billion in sales per year. (From a press release on January 10, 2017)