Joyson Electronics is accelerating its deployment in the direction of intelligent driving and new energy, relying on large-scale R&D centers established in multiple countries, 5,300 engineering and R&D personnel, and more than 5,000 patents, and its complete hardware design, software development, and data processing capabilities It has been recognized by major global automakers.
The electrification of automobiles has become a prairie fire, and intelligent networked vehicles are in the ascendant. The spiral rise of the two is the main development form of Chinese automobiles at the moment. In the last two months of 2020, many domestic departments have intensively issued a series of policies to encourage the development of new energy and intelligent networked vehicles. Among them, the "New Energy Vehicle Industry Development Plan (2021-2035)" and "Smart Network Lian Automotive Technology Roadmap 2.0 are the core, which will further accelerate the promotion of the automotive industry into the era of electrification and intelligence.
Joyson Electronics (600699.SH), which has been deeply involved in the fields of automobile safety, intelligent networking, and new energy vehicle battery management for many years, is accelerating its deployment in the direction of intelligent driving and new energy, relying on large R&D centers and 5,300 projects established in multiple countries Technical and R&D personnel and more than 5,000 patents. Its complete hardware design, software development, and data processing capabilities have been recognized by mainstream global automakers. Joyson Electronics has established itself as an excellent global supplier in the field of automotive safety and automotive electronics. The strategic goal of "safer, smarter, and more environmentally friendly" has become increasingly clear.
Inject global momentum into China's new energy vehicle growth
With the rapid growth of the domestic new energy vehicle market, China's new energy vehicles are shifting from being driven mainly by policies to being driven by marketization. Research by the National Information Center shows that the rapid growth of new energy vehicle sales this year is mainly driven by private purchases, and more car companies are accelerating their entry into this track.
As the integration of the automotive safety business comes to an end in 2020, Joyson Electronics has established a complete R&D team in China, with the ability to coordinate global R&D and localized technical support to more accurately serve the local Chinese vehicle manufacturers.
The layout of Joyson Electronics in China is becoming more and more important. Ningbo, Shanghai, and Huzhou factories have started in sequence. Independent research and development in China have continued to advance, and a research and development system that quickly responds to the new demands of the domestic market has gradually formed, further forming a difference compared with global competitors' advantage.
In the first three quarters of this year, in the field of battery management systems (BMS), the company won an order for new models of Volkswagen's MEB platform in China and will provide battery management and monitoring unit products for nearly 1.3 million MEB platform pure electric vehicles. Joyson Safety Ningbo "Super Factory" has recently passed relevant system and customer certifications, and will become the company's most advanced production base for automotive safety system products in China. All divisions of Joyson Electronics have fully recovered, and the single-quarter operating income in the third quarter is close to the level of the same period last year, a 61% increase from the second quarter of this year.
At the same time, the vigorous growth of new domestic car manufacturers has also become a new partner of the company's "China Strategy". Joyson Electronics’ Secretary of the Board Yu-Kai said: “In China, Joyson is about to open a new round of opportunities.”
Joyson Electronics follows the development trend of automotive electrification and intelligence and continues to increase investment in the expansion of smart car electronic products. The company previously announced that it has completed the non-public offering of shares to raise funds. The project products mainly include new energy vehicle battery management systems and smart cockpit electronic products. Among them, the project plans to achieve an annual output of 900,000 pieces of new energy battery management systems and 14.2 million pieces of smart cockpit electronic products.
Continuous investment in Intelligent Networking ushered in huge returns
Intelligence is also considered to be the most important auto industry trend after electrification. West China Securities pointed out in the "Intelligent Driving In-Depth Report: Reconstructing the Industry Chain Ecology" that the era of smart driving is coming, and the value of the automotive industry chain is ushering in new opportunities for redistribution.
Joyson Electronics' advanced deployment value in this field is gradually manifesting. A few days ago, Joyson Electronics’ three cutting-edge technologies including 5G-V2X in-vehicle smart terminals, DC/DC multi-function converters, and ceiling-mounted passenger airbags from the Joyson Electronics division have been recognized by the purchasing leaders of domestic mainstream auto companies, and jointly obtained domestic authority. The auto parts awards demonstrate the company's continuous innovation capabilities and market leadership in the electrification of vehicles, intelligent networking, and passenger safety. This is due to the strong support of Joyson Electronics’ annual average R&D investment of more than 6% for more than ten years. In the first three quarters of this year, despite the impact of the epidemic, Joyson Electronics' R&D investment has not decreased, reaching 2.33 billion yuan.
Today, the intelligent networked business is entering an explosive period. The "Intelligent Networked Vehicle Technology Roadmap 2.0" points out that by 2025, the sales of intelligent networked vehicles with partial and conditional autonomous driving levels will account for more than half of the total vehicle sales that year. , The new car assembly rate of C-V2X terminals based on cellular communication reached 50%.
Joyson Electronics is devoting more resources to the growth track of intelligent networking. The company announced in November that the company has become an excellent supplier in the global automotive safety and automotive electronics fields through years of development. In the future, the company will focus more on the main, Passive safety, autonomous driving, Internet of Vehicles, intelligent cockpit, and other main business directions, increase resource investment in Lidar, domain controller, 5G-V2X, new energy vehicle electronic control management technology, and other aspects.