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5. Huizhou Desay SV Automotive Co., Ltd. Business Report FY ended Dec. 2017

Huizhou Desay SV Automotive Co., Ltd. Business Report FY ended Dec. 2017

Recent Development

-On June 13, 2018, the Company announced its IoV strategy at the CES Asia 2018. The Company clearly explained in its 2025 policy a plan to intensively work on three business lines, namely the intelligent cockpit, intelligent drive and automotive Internet businesses. It intends to set up a new platform with one million users in 2020 by deploying the strategy that focuses on innovation, high-efficiency, heartful safety features, and heart-warming connected car products and services. (From a press release on June 21, 2018)

-On December 25, 2017, the Company announced a plan to go public on the Shenzhe Stock Exchange and raise Chinese yuan (CNY) 1.97 billion for capital investments and liquid assets. There are three capital investment plans. Firstly, the company is going to invest CNY 667 million in the construction of a new plant to make intelligent automotive electronics products. At full capacity, the new facility is expected to generate sales of CNY 3.2 billion and a profit of CNY 202 million a year on average. It will take 24 months to complete the construction work. Secondly, the company will spend CNY 985 million in the initiatives to industrialize car electronics mobile Internet technology integration. This program is expected to generate sales of CNY 4.14 billion and a profit of 258 million a year on average. It will take 30 months to complete the project. Thirdly, the company is going to invest CNY 216 million in the construction of a new car electronics mobile Internet technology research and development center. The construction work will require 12 months. (From a corporate announcement on January 3, 2018)

Acquisition

-On November 29, 2018, the Company signed a share acquisition agreement in Germany with shareholders of ANTEBB Holding GmbH. The Company is going to acquire the shares in ANTEBB by cash and indirectly acquire 100% shares in Antennentechnik ABB Bad Blankenburg GmbH (ATBB), an antenna manufacturer in Germany. Located in Weimar, Germany, ABB manufactures and sells complex antenna systems and other products. The share acquisition will allow Huizhou Desay SV Automotive Electronics to steadily advance the strategic plan for three major segments, namely the intelligent cockpit, smart drive, and car connect markets. (From media reports on December 4, 2018）

New Company

-The Company announced on April 27, 2018, that it had set up a new wholly-owned subsidiary, Huizhou Desay SV ITS Technology Research Institute Co., Ltd. The new company’s registered capital is Chinese yuan (CNY) 10 million. It mainly works on the research and development of intelligent drive, vehicle interaction solutions, and new energy vehicles. (From a corporate announcement on April 28, 2018)

-On March 10, 2018, the Company announced a plan to set up a new lab tentatively named China (Beijing) Intelligent and Connected Vehicle Research Institute Co. Ltd. with 10 partners. The partners are FAW, Dongfeng Automobile, GAG Group, Beijing Automotive Technology Center, Zhengzhou Yutong Bus, CATARC, Tus Cloud Monitoring (Beijing) Technology, Jiangling Motors, Zhejiang Asia-Pacific Mechanical & Electronic, and Shanghai Baolong Automotive. The 11 companies are going to invest Chinese yuan (CNY) 50 million each and establish the lab with a registered capital of CNY 550 million. Apart from the 11 corporations, industrial groups such as the Society of Automotive Engineers of China and the China Association of Automoblie Manufacturers, as well as universities such as Tsinghua University, Beihang University, and Jilin University are going to join the initiative. The new lab is going to be positioned as a national-level connected car innovation center. It’s expected to help China to meet its strategic needs of setting up the basis for the industrial expansion and solving common problems, and offer basic modules and common platforms for the new industrial society which is supported by the connected cars. It will also allow each company to exercise its strength, become more competitive, and promote the development of China’s connected car industry. (From a corporate announcement on March 12, 2018)

Strategic Cooperation

-On June 23, the Company signed a strategic cooperation agreement with Guangzhou Xiaopeng Motors Technology Co., Ltd. (Xpeng) to develop Level-3 autonomous driving systems. The automaker will equip the controllers in its autonomous driving software system (for the Chinese market). The partners Level-3 autonomous driving systems will have intelligent functions for low-speed automatic parking, medium-speed assistant cruise control during traffic jams, and high-speed automatic driving. Xpeng will start mass production of Level-3 autonomous vehicles in 2020. (From Xpeng's offcial website news on June 24, 2018)

-The Company and Singapore Technological University signed a memoradndum of understanding on strategic alliance in Singapore. The two parties will cooperate to provide innovative solutions in automotive information security industry. The cooperation aims to make automotive electronics new products and new technologies, such as in-vehicle infotainment systems and intelligent driver assistance systems, safer and more reliable. (From a release on March 29, 2018)

New Product

-On November 6, 2018, the Company announced the development of an LTE Vehicle-to-Everything (LTE-V2X) solution for automakers based on the Qualcomm® 9150 C-V2X chipset solution from Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated. Desay SV’s new solution, based on the Qualcomm 9150 C-V2X chipset solution, as well as Desay SV’s software and hardware platforms for onboard units (OBUs), which are integrated with China Automotive Engineering Society (CSAE) ITS software, supports V2V scenarios such as Forward Collision Warning (FCW) and Intersection Movement Assist (IMA), V2I scenarios such as Speed Limit Warning (SLW) and Signal Phase & Timing (SPaT) and V2P scenarios such as Vulnerable Road User Collision Warning (VRUCW) to enhance the capabilities of the intelligent connected car era. (From Desay SV official website news on November 6, 2018)

-In June 2017, the Company became a member of Baidu Apollo program, cooperated on BCU and MapAuto to jointly build a mass-produced computer platform which supports auto-driving. The two parties jointly launched a system based on DuerOS platform at Baidu World Congress in November 2017.(From Desay SV's 2017 annual report)

-In 2017, the Company introduced a variety of display modules and systems with leading optical performance. (From Desay SV's 2017 annual report)

-In 2017, the Company introduced the concept of intelligent cockpit and planed to build an intelligent networked product which considered user experience as its core. (From Desay SV's 2017 annual report)