SAIC Ventures participates in a new round of financing for Hongyi Chip

Guangzhou Hongyixin Automotive Electronics Technology Co., Ltd. ("Hongyixin") recently completed the PreA++ round of strategic financing. SAIC Venture Capital (a wholly-owned subsidiary of SAIC Financial Holdings, the financial platform of SAIC Group) and other investment institutions jointly participated in this financing. SAIC Venture Capital will continue to implement the group's innovation strategy, promote close collaboration among investment teams, and assist the coordinated development of invested companies and industries to support the group's transformation towards innovation. Hongyixin focuses on the research and development and design of automotive SBC chips. Its core products include engine control chips and chassis control chips with high functional safety levels. These products are widely used in traditional fuel vehicles and new energy vehicles. The successful mass production of Hongyixin will provide support for the localization of domestic automotive-grade chips in the powertrain and chassis fields, and lay the foundation for future chip supply guarantees.