China Fund News reporter Qiu Dekun
On the evening of October 16th, XGIMI Technology announced that Yibin XGIMI Optoelectronics Co., Ltd. (hereinafter referred to as Yibin XGIMI), a wholly-owned subsidiary of the company, will supply intelligent cockpit display products for new models in the world.
As one of the car brands of Hongmeng Zhixing, Xiangjie is an important part of Huawei's smart car strategy, and its cooperative car company is BAIC New Energy, and it is continuing to expand the circle of A-share friends.
XGIMI Technology expands its on-board business
XGIMI Technology announced that recently, Yibin XGIMI received a fixed-point notice for the development of BAIC New Energy, showing that Yibin XGIMI will become the designated supplier of BAIC New Energy's on-board projectors and curtain assemblies, providing intelligent cockpit display products for its new models.
At the same time, Yibin XGIMI recently received a notice from another well-known domestic automobile industry chain enterprise at the scheduled point, and the official fixed-point notice still needs to be approved by the company's supplier system.
Vehicle business is an important direction of XGIMI's strategic layout. XGIMI Technology announced that the company's acquisition of BAIC New Energy's development designation this time is a small step in the expansion of on-board business and the beginning of the intelligent cockpit business.
XGIMI Technology is mainly engaged in the research and development, production and sales of intelligent projection products, but in 2023, the net profit attributable to the parent company and the net profit after deducting non-profits will decrease by 75.97% and 84.57% year-on-year respectively, mainly due to the pressure on domestic projection product demand.
Pictured: Part of the accounting data of XGIMI Technology's 2023 annual report
To this end, XGIMI Technology mentioned for the first time in its 2023 annual report that it would "actively expand new business areas and increase the layout of on-board products", and took on-board business as one of the key tasks in 2024.
XGIMI Technology's on-board business focuses on three core on-board projection scenarios, namely smart cockpit, smart headlights and HUD (head-up display), trying to create differentiated advantages of on-board projection products and improve the on-board business supply chain system.
XGIMI Technology said that in the past research and development process of projection products, the company has formed patents and technical reserves in the field of imaging optics, and has differentiated advantages in vehicle projection application scenarios.
At present, Yibin XGIMI has a manufacturing base covering an area of 280 acres in Yibin City, and has obtained the IATF 16949 automotive industry quality management system compliance certification, and has completed the research and development and sample delivery of a variety of on-board products.
XGIMI Technology announced that "in the future, the company will continue to insist on long-term investment in the research and development and innovation of home and vehicle projection technology." ”
As of the close of trading on October 16, the total market value of XGIMI Technology was 4.806 billion yuan.
Xiangjie cooperates with a number of A-share companies
According to public information, "Xiangjie" is a high-end smart electric vehicle brand jointly created by Huawei and BAIC New Energy, aiming to reshape the market segment pattern of luxury electric vehicles. The brand officially announced it in April and launched its first model, the Xiangjie S9, in August.
Today, Xiangjie is continuing to expand the circle of A-share friends.
On the evening of October 14, Guangfeng Technology announced that the company recently received the second development fixed-point notice from BAIC New Energy, and once again became its on-board optical solution provider, providing intelligent cockpit display products for new models in the world.
In mid-September, Huayang Group accepted an institutional survey and said that the company's electronic exterior mirror products have been equipped with Xiangjie S9 mass production and listing.
Rhema Precision said on the interactive platform that the seat comfort system components and small assembly system products of the company's subsidiary Xinzheng Parts have been applied to the Xiangjie S9.
German Nano said on the interactive platform that lithium manganese iron phosphate, as a new generation of cathode material, will add models such as Xiangjie S9 in 2024. The commercialization of lithium manganese iron phosphate has been further accelerated.
Zhejiang Xiantong said on the interactive platform that the whole car sealing strip of the Xiangjie S9 is supplied by the company separately. Rayhoo Mould said on the interactive platform that part of the manufacturing equipment of the Xiangjie S9 model is provided by the company.
According to Bohai Automobile's 2024 semi-annual report, the large-scale structural parts such as longitudinal beams of Xiangjie models undertaken by the company have successfully achieved mass production and supply.
Editor: Captain
Review: Chen Mo