In-vehicle camera systems are the largest revenue segment for Longhorn Automotive

The vehicle camera system is the largest revenue segment of Haun Automotive and Electric, mainly providing products including surround-view cameras, rear cameras, AVM controllers, etc., which are used in parking systems, panoramic camera systems, and ADAS perception systems. The revenue of vehicle camera system products in 2020, 2021 and 2022 were 333 million yuan, 489 million yuan and 595 million yuan, respectively, accounting for 46.53%, 49.96% and 55.30% of the main business income, respectively. As one of the IPO fundraising projects of Haun Automotive and Electric, the "Automotive Intelligent Driving Perception Product Production Project" plans to invest 159 million yuan, and plans to form an annual production capacity of 3 million vehicle camera systems, 10 million ultrasonic perception systems and 500,000 vehicle video driving recording systems. From the perspective of production line planning, the ultrasonic perception system occupies a pivotal position in Haun's development plan. On March 13, 2024, Haun Auto & Electric announced that it had won the project for SERES' millimeter-wave radar system (including in-cabin monitoring and corner radar), with mass production scheduled for June 2024. The project life cycle is 3 years and the total amount is estimated to be approximately RMB 130 million.