Shanghai Aerospace Automobile Electromechanical Co., Ltd. (SAAE)

Company Profile

■URL

http://www.ht-saae.com/En/

■Address

Southern Building, Hangtian Building, No. 222 Caoxi Road, Shanghai 200235, China

Business Overview

-The Company owns auto air-conditioning, EPS system, sensors, motors, controllers and other auto parts products.


-The Company also produces polysilicon, solar cells, battery modules and photovoltaic power station system integration, aerospace composite structural parts, new materials for rail transportation applications, special high pressure gas cylinders and so on.

-Since the completion of the acquisition of SDAAC Automotive Air-Conditioning Systems Co., Ltd. Shanghai (SDAAC), the company has become one of the major suppliers of automotive heat exchange systems worldwide. According to the sales ranking data released by global thermal system suppliers in 2016, the Company ranks in the top ten.

-Shanghai Aerospace Automobile Electromechanical Co., Ltd. (SAAE) said on September 30, 2017, that it's going to acquire a 70% stake in a surviving company of erae Automotive Systems Co., Ltd., which is to be established after separating its automotive non-heat exchanger business from erae Automotive Systems Co., Ltd.

Shareholders

Listed on the Shanghai Stock Exchange. (As of December 31, 2018)
Shareholder Shareholding ratio
Shanghai Aerospace Industry (Group) Co., Ltd. 28.34%
Aerospace Investment Holdings Co., Ltd. 4.45%
Shanghai Sungrow Economic Development Co., Ltd. 2.48%
Sanghai Aerospace Wire Communication & Electric Factory 2.44%
Other shareholders 62.29%
Total 100%

Products

Air conditioners
- Air conditioners
- Condensers
- Air conditioner evaporators
- Heaters
- Air conditioner hoses
- A/C parts

Evaporating blowers
- Air conditioner evaporator blowers

Radiator fans

DC motors
- Air conditioner evaporator motors
- ABS motors

Sensors
- ABS wheel speed sensors
- Speed sensors
- Thermo switches
- Temperature sensors

EPS Systems
- Electric Power Steering (EPS) Systems
- Brushless motors, brushless blowers, brushless cooling fans
- Intelligent air-conditioner controllers
- Oxygen sensors
- Front anti-collision radars

Vehicle information terminals

Controllers/Relays
- Engine speed controllers
- Power take off controllers
- Wiper controllers
- Time delay relays
- Transformers

Central electrical appliances
- Junction boxes
- Fuse boxes

Antennas
- Top antennas
- Automatic lift antennas

Precision stampings / Precision plastic injection moldings

Clutch hydraulic cylinders

New energy products
- CNG tanks
- LPG tanks

Lithium Battery for New Energy Vehicle
- Lithium cells
- Lithium battery modules
- Accessories of battery systems
- Battery management systems
- High voltage modules

History

May 1998 The Company was established as a joint venture among Shanghai Aerospace Industry Corp., Shanghai Xinguang Telecom Factory, Shanghai Shule Electric Apparatus General Factory, and Shanghai Instrument Factory Co., Ltd. Listed on the Shanghai Stock Exchange. Issued 68 million shares. Total number of 272 million shares.
Sep. 1993 The Company established Shanghai Automobile Air-conditioner Factory. 
Mar. 1998 Shanghai Automobile Air-conditioner Factory and Delphi of the U.S. jointly established Shanghai Delphi Automotive Air Conditioning Systems Co. Ltd.
Jan. 1999 The Company acquired 50 percent of the shares in Air-conditioner International (Shanghai) Co., Ltd. The remaining 50 percent shares are held by Air International Group Limited of Australia. 
Jul. 2003 Acquired 30% of the shares in Chengdu Space Mould & Plastic Co., Ltd.
Dec. 2005 The Company established Shanghai CNG Automotive System Co., Ltd., a subsidiary to manufacture high-pressure tanks. 
Jan. 2006 The Company established Shanghai Composite High-Tech Development Co.,Ltd., a subsidiary to manufacture high-pressure tanks.
Oct. 2010 The Company pulled out of the business operated by Shanghai CNG Automotive System Co., Ltd., liquidating the 60 percent shareholding it has in the company.
Nov. 2010 The Company  purchased 37.5 percent of the shares in Shanghai Delphi Automotive Air Conditioning Systems Co., Ltd.
Nov. 2010 The Company sold all its shares in Shanghai Automobile Air-conditioner Factory.
Jun. 2011 The Company sold all its shares in Air-conditioner International (Shanghai) Co., Ltd.
Aug. 2012 The Company sold 17.14 percent shares in Chengdu Space Mould & Plastic Co., Ltd.
Oct. 2015 The Company acquired an additional 50% of shares in Shanghai Delphi Automotive Air Conditioning Systems Co., Ltd. from Delphi Automotive Systems Singapore Pte. Ltd. SAAE will pay USD 99 million for this deal. Shanghai Delphi Automotive Air Conditioning Systems will be owned 87.5% by SAAE and 12.5% by Shanghai Automobile Air-conditioner Factory after the transaction.
Jan. 2018 Shanghai HT Holding HongKong Limited purchased 51% equity of erae Automotive Systems Co., Ltd. (erae AMS) in South Korea. In the following six months, HT Holding HongKong Limited will acquire another 19% stock right held by erae CS Co., Ltd.
Dec. 2018 A subsidiary of Shanghai Aerospace Automobile Electromechanical Co., Ltd., SDAAC Automotive Air-Conditioning Systems Co., Ltd. Shanghai, announced a plan to set up a subsidiary, SDAAC (Changshu) Automotive Air-Conditioning Systems Co., Ltd.
Dec. 2018 Shanghai Aerospace Industry will transfer 26.45% of shares in Shanghai Aerospace Automobile Electromechanical to Shanghai Academy of Spaceflight Technology for CNY 1.55 billion. Once the transaction completes, Shanghai Academy of Spaceflight Technology will have a 26.45% stake in Shanghai Aerospace Automobile Electromechanical to become the largest shareholder.
Mar. 2019 Shanghai Aerospace Automobile Electromechanical Co., Ltd. announced on March 5, 2019, that its subsidiary, Shanghai Aerospace Holding (HongKong) Co., Ltd., will acquire 19% shares in erae Automotive Systems Co., Ltd.

Supplemental Information 1

>>>Highlights for FY ended Dec. 31, 2006
>>>Highlights for FY ended Dec. 31, 2007
>>>Highlights for FY ended Dec. 31, 2008
>>>Highlights for FY ended Dec. 31, 2009
>>>Highlights for FY ended Dec. 31, 2010
>>>Highlights for FY ended Dec. 31, 2011
>>>Highlights for FY ended Dec. 31, 2012
>>>Highlights for FY ended Dec. 31, 2013
>>>Highlights for FY ended Dec. 31, 2014
>>>Highlights for FY ended Dec. 31, 2015
>>>Highlights for FY ended Dec. 31, 2016
>>>Highlights for FY ended Dec. 31, 2017

Note: A figure in brackets ( ) indicates a loss

Production volume by subsidiary companies

(in thousand units)
Products Company Name FY ended Dec. 31, 2015 FY ended Dec. 31, 2014 FY ended Dec. 31, 2013
Sensors Shanghai Aerospace Automobile Electromechanical Co., Ltd. 1,610 1,574 1,850
Clutch master cylinders - - 450
Interiors & exteriors
Shanghai Xinguang Automotive Electrical Equipment Co., Ltd. 49,166 - -
Air conditioners Shanghai Delphi Automotive Air Conditioning Systems Co., Ltd. - 2,002 1,885
Air conditioner motors - 485 -

Source : China Automotive Industry Yearbook (issued every October)