• Investment in Suzhou Zhihua

    Suzhou Zhihua Automobile Electronics Co. Ltd. (“Suzhou Zhihua”)

    The Company has been acquiring equity interests in Suzhou Zhihua. Suzhou Zhihua was incorporated in the PRC on 10 January 2012. It is an incubated enterprise of the Automotive Research Institute (Suzhou) of Tsinghua University. Through cooperating with the Automotive Research Institute and with the talent and academic advantages of Tsinghua University, Suzhou Zhihua has abundant reserves in artificial intelligence algorithm. Suzhou Zhihua strives to develop a number of competitive ADAS products and is engaged in the production and sales of related products.

    The Suzhou Zhihua Group has achieved satisfactory development in the Around View Monitor (AVM, which generates real-time top-view images by processing of multiple-area images by the Electronic Control Unit (ECU), and provide more intuitive auxiliary driving information and reliable blind area display tools), Lane Departure Warning (LDW, which has straight road and curved road measurement ability and high level distance measurement ability), Forward Collision Warning (FCW, by the high degree of mastery in core technologies of hardware design, image recognition, alarm algorithm and other aspects, to conduct differentiated and customized development according to different customer needs), Pedestrian Detection, Night Vision, Blind Spot Detection, Driver Fatigue Monitoring and other ADAS-related technologies. Also, Suzhou Zhihua has developed a series of products in areas including vehicle intelligent monitoring and intelligence-aided safe driving.

    The high-quality and diverse customer base established and owned by the Suzhou Zhihua Group in the sales channels to the high-quality customers including car factories with domestic original brand and the large Chinese Original Equipment Manufacturer (OEM) brands, such as Guangzhou Automobile, SAIC GM Wuling Automobile, Geely Automobile, Zotye Automobile, Dongfeng Nissan, BAIC Motor and Changan Automobile, and covering their key models. Most crucially, the Suzhou Zhihua Group has built a solid track record for its ADAS products based on product quality and affordable prices, and therefore the product penetration has grown significantly since inception, and they have sold approximately 380,000 and approximately 560,000 pieces of Camera-based ADAS System units in 2016 and in the first half of 2017, respectively, and the sales of the Suzhou Zhihua Group in the first half of 2017 exceeded RMB100 million, and it began to make a profit.

  • Finance Lease Business

    We completed the acquisition of Optimus Financial Group Limited, which is principally engaged in the business of providing car trading and finance lease of motor vehicles and equipment via its subsidiaries, in December 2015. We have made significant progress in increasing and diversifying the leasing portfolio in order to cover automobile inventory financing and equipment financing.

  • Car-carried Purifier Business

    Suzhou Yadu Cloud Technology Co. Limited (“Yadu Cloud”) is specialised in research and development of car-carried purifiers and related air technology businesses of the development, manufacturing, distribution and sales of car-carried purifiers.

  • Investment in Tuspark Global

    We are holding 28.57% of the issued share capital of Tuspark Global Limited (“Tuspark Global”). Tuspark Global, via its subsidiaries, is principally engaged in the operation and management of workhubs and innovation hubs and ancillary business in Hong Kong and the PRC. The Board is of the view that the future prospects of Tuspark Global will be promising, and the subscription offers an opportunity for the Group to further participate in such business.