Shanghai Aerospace Automobile Electromechanical Co., Ltd. (HT-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's main businesses are automotive thermal systems and new energy photovoltaic power generation. In 2019, the company gradually withdrew from its automotive business, except for thermal systems, and underwent a consolidation. In 2020, the separation of the businesses entered its final phase, completing the concentration of resources on the ongoing thermal systems business.

-In 2019, the automotive thermal system business was unified under the “Estra” brand.. It will focus on the development and production of heat exchangers, engine cooling modules, air conditioning boxes and their controllers, compressors, etc.

-the Company has 13 plants and 4 R&D centers around the world. The company operates in China, Korea, Southeast Asia, Europe, and the Americas. Major customers include BMW, VW, GM, SAIC, and Stellantis.

Shareholders

Listed on the Shanghai Stock Exchange. (As of December 31, 2020)
Shareholder Shareholding ratio
Shanghai Academy of Spaceflight Technology 26.45%
Other shareholders 73.55%
Total 100%

Products

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

Evaporator 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
- Roof antennas
- Automatic antennas

Precision stampings / Precision plastic injection molded products

Clutch hydraulic pumps

New energy products
- CNG tanks
- LPG tanks

Lithium Batteries for New Energy Vehicles
- Lithium cells
- Lithium battery modules
- Battery system accessories
- 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.
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 had 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 acquired 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 Ltd., the controlling shareholder of the Company, will transfer 26.45% of its shares to the Shanghai Academy of Spaceflight Technology, which will become the largest shareholder of the company after the transaction is completed.
Mar. 2019 The Company’s subsidiary, Shanghai Aerospace Holding (HongKong) Co., Ltd., acquires a 19% stake in erae Auto held by erae cs Co., Ltd. for US$40 million.
Mar. 2019 The Company acquired 70% shares in a South Korean company, erae Automotive Systems Co., Ltd.

Supplemental Information 1