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Gaopin reached a strategic partnership with Hanang Auto Parts electric Compressor Division to provide advanced assembly production lines for Hanang Electric Compressor Division. This cooperation will further consolidate the position of both parties in the field of auto parts and contribute to the development of the electric vehicle industry.

From January 12 to 16, Mr. Song Jung-Hoon, head of the GME team in Asia of Hanang Auto Parts Korea Headquarters, and Mr. Hong Ren-pyo, an engineer, visited Gaopin and had an in-depth and detailed discussion on the current electric compressor production line of cooperation. The talks not only strengthened the communication between the two sides at the technical level, but also laid a solid foundation for future cooperation.

HANON SYSTEMS (018880.KS), founded in 1986, became the world's second-largest supplier of thermal management systems after the acquisition of MAGNA's related core business in 2019. As of the fiscal year 2021, Hanang achieved revenue of 7.4 trillion won (about 39.40 billion yuan). It is a well-known company with 53 production sites and 3 innovative research and development centers around the world. Its Thermal Management products include Battery Thermal management systems, Heat Pump systems, HVAC modules, compressors, and cooling modules (Powertrain) Cooling) and other areas. The company's core customers include international car companies such as Hyundai (HMG), Ford (Ford), Volkswagen (VW), GM (GM), Mercedes (Mercedes), BMW (BMW), as well as domestic new forces such as NiO and Xiaopeng.

Statistics: CICC Qixin International Consulting

The achievement of this strategic cooperation will enable Gaopin and Hanang to better jointly promote the innovation of electric vehicle technology and contribute a unique and positive force to the green development of the future automotive industry. We look forward to more win-win results from the cooperation between the two sides and jointly create a new future for the automotive industry.

Please pay attention to witness the excellent cooperation between Gaopin and Hanang, and inject new vitality into the innovation in the field of electric vehicles!