About Huihan Shares

Huihan Co., Ltd. was established in July 2008 and is headquartered in Fuzhou, Fujian Province. The company's main products include intelligent terminals for Internet of Vehicles, intelligent modules for the Internet of Things, software and technical services; it is in a leading position in the industry in the fields of automotive-grade Bluetooth/WiFi modules, Internet of Vehicles TBOX, automotive eCall systems, and new energy management systems. According to the prospectus, the company's networked TBOX products account for 5.59% of the Chinese passenger car market and 8.78% of the domestic passenger car market, which is in a leading position in China. From 2020 to 2023, SAIC Group was the largest customer of Huihan Co., Ltd., with sales of 115 million yuan, 183 million yuan, 259 million yuan and 315 million yuan respectively, accounting for 43.40%, 43.35%, 44.63% and 38.77% of operating income respectively. After the capital increase in February 2022, SAIC Venture Capital's shareholding ratio was reduced to 2.85%, making it the company's fifth largest shareholder. Chery is the second largest customer, accounting for more than 10%. During the reporting period, the number of R&D personnel of Huihan Co., Ltd. was 148, 168 and 219 respectively, accounting for 52.86%, 51.69% and 55.58% of the company's total employees respectively.