Sanan Optoelectronics invests in establishing a new company!

Recently, Chongqing Anrui Optoelectronics Co., Ltd. (hereinafter referred to as: Chongqing Anrui Optoelectronics) was established. The company's business scope includes semiconductor lighting device manufacturing, lighting fixture manufacturing and sales, intelligent vehicle equipment manufacturing, auto parts retail, new energy vehicle sales, auto parts research and development, etc.

The equity perspective shows that Chongqing Anrui Optoelectronics is 100% owned by Wuhu Anrui Optoelectronics Co., Ltd. (hereinafter referred to as: Anrui Optoelectronics), and Anrui Optoelectronics is a wholly-owned subsidiary of Sanan Optoelectronics. Therefore, Chongqing Anrui Optoelectronics is indirectly wholly-owned by Sanan Optoelectronics.

The parent company is mainly engaged in the automotive lighting business
Anrui Optoelectronics, the parent company of Chongqing Anrui Optoelectronics, is mainly engaged in the research and development, production and sales of the automotive lighting business.
In December 2019, Anrui Optoelectronics purchased all the assets of WIPAC - the world's leading lighting system supplier for luxury cars and supercars - with its own monetary funds of 10.5 million pounds. After acquiring it, Anrui Optoelectronics' intelligent car lighting products have continued to increase their share in the new generation of autonomous vehicles. Customers are also penetrating into high-end models and new energy vehicles. The car lighting business continues to be introduced to domestic first-tier brands and international high-end customers.
Anrui Optoelectronics has currently cooperated with Changan, Dongfeng, H, Geely, GAC, FAW, SAIC, T, Beijing Hyundai, Mercedes-Benz, BMW, Ferrari, Aston Martin, Bentley, Porsche, Audi,Cooperation with well-known domestic and foreign car companies such as Jianghuai and Shenlong.
In the first half of 2022, Anrui Optoelectronics achieved operating income of 877.6428 million yuan and net profit of 63.7497 million yuan. In the future, with the increase in customized models and product series, Anrui Optoelectronics' revenue scale and profits will grow simultaneously.

Not only car lights, but also SiC devices

In addition to car lights, Sanan Optoelectronics’ layout in the automotive field is also reflected in SiC devices. Through acquisitions, cooperation, self-research, etc., Sanan Optoelectronics has now completed the construction of the entire silicon carbide industry chain, including long crystal substrate production, epitaxial growth, chip production, packaging and other links, and has strong vitality and competitiveness in the SiC field.
In terms of acquisitions, Sanan Optoelectronics acquired Norstel in 2017 and entered the manufacturing of silicon carbide substrates. In 2019, it sold 55% of Norstel's shares to ST; in August 2020, Sanan Optoelectronics Company Hunan Sanan acquired 100% of the shares of Nortel New Materials, which is mainly engaged in the research and development and production of automotive grade SiC wafers.
In terms of cooperation, Hunan Sanan and Li Auto jointly invested in the establishment of Suzhou Sco Semiconductor. On August 24, Li Auto, built by the company, announced the official start of construction of a power semiconductor R&D and production base. It is reported that the base mainly focuses on the independent research and development and production of third-generation semiconductor silicon carbide automotive power modules. It is expected to be 2After completion in 2022, it will enter the equipment installation and debugging stage. Sample trial production will start in the first half of 2023. After formal production in 2024, the production capacity is expected to gradually increase and eventually reach an annual production capacity of 2.4 million silicon carbide half-bridge power modules.
In terms of self-research, Hunan Sanan has launched a number of mature products into the market. Recently, at the 2022 First New Energy Vehicle Electric Drive Technology Innovation Summit, Hunan Sanan also released the latest 1200V silicon carbide MOSFET series products, including 1200V80mΩ/20mΩ/16mΩ. This series of products all come from Hunan Sanan's six-inch full-chain integration platform, with the goal of achieving a comprehensive breakthrough in complete vehicles and new energy vehicle parts in 2023.
On August 2, Sanan Optoelectronics mentioned on the interactive platform that the company's SiC MOSFET industrial-grade products have been sent to customers for verification, and automotive-grade products are cooperating with many car companies for tape-out design and testing. The cooperation between SiC MOSFET automotive-grade products and key new energy vehicle customers has achieved major breakthroughs, and the number of shipping customers for various products continues to increase. It also pointed out that SiC will be an important growth point for the company's revenue in the future.
In terms of production capacity, according to the 2022 semi-annual report released by Sanan Optoelectronics, Hunan Sanan Power Electronics' silicon carbide production capacity is 6,000 pieces/month, and its power electronics silicon-based gallium nitride production capacity is 1,000 pieces/month.
Sanan Optoelectronics’ “new” track
From car lightsto SiC devices, Sanan Optoelectronics is actively laying out new energy vehicle tracks.
In terms of market space, TrendForce Consulting's research points out that the increasing penetration rate of LED headlights and the development of advanced technologies such as smart headlights, logo lamps (Logo Lamps), and smart ambient lights will support the demand for the automotive lighting market in 2022. At the same time, affected by the soaring cost of plastics, the price of automotive lighting products may remain unchanged or even increase. It is estimated that the global automotive lighting market output value is expected to reach US$32.68 billion in 2022, an annual increase of 4%.
The SiC market is also full of vitality. TrendForce pointed out that as more and more car companies begin to introduce SiC technology into electric drive systems, the market size of automotive SiC power components is expected to reach US$1.07 billion in 2022, and will climb to US$3.94 billion by 2026.
In the first half of 2022, Sanan Optoelectronics achieved revenue of 6.762 billion yuan, a year-on-year increase of 10.60%; net profit attributable to shareholders of listed companies was 932 million yuan, a year-on-year increase of 5.46%. In the future, as the production capacity and product series of automotive-grade products increase, Sanan Optoelectronics is expected to deliver more impressive results.