On the evening of October 16, XGIMI Technology announced that its wholly-owned subsidiary, Yibin XGIMI Optoelectronics Co., Ltd. (hereinafter referred to as Yibin XGIMI), will supply smart cockpit display products for the new models of Xiangjie.

As one of the automotive brands of Hongmeng Zhixing, Xiangjie is an important part of Huawei's smart car strategy, with BAIC New Energy as its partner automaker, and is continuously expanding its A-share circle of friends.

XGIMI Technology Expands In-Vehicle Business

XGIMI Technology announced that recently, Yibin XGIMI received a development定点 notice from BAIC New Energy, indicating that Yibin XGIMI will become the designated supplier of in-vehicle projectors and screen assemblies for BAIC New Energy, supplying smart cockpit display products for its new Xiangjie models.

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At the same time, Yibin XGIMI recently received a pre-booking notice from another well-known domestic automotive industry chain enterprise, and the formal定点 notice still needs to be approved through the supplier system of that enterprise.

In-vehicle business is an important direction of XGIMI Technology's strategic layout. XGIMI Technology announced that the company's acquisition of BAIC New Energy's development定点 this time is a small step in the expansion of in-vehicle business and also the beginning of smart cockpit business.

XGIMI Technology is mainly engaged in the research and development, production, and sales of smart projection products, but in 2023, the net profit attributable to the mother company and the net profit after deducting non-recurring gains and losses decreased by 75.97% and 84.57% respectively, mainly due to the domestic projection product demand facing stage pressure.

The figure shows: some accounting data from XGIMI Technology's 2023 annual report

To this end, XGIMI Technology mentioned for the first time in the 2023 annual report "actively expand new business areas and increase the layout of in-vehicle products", and regarded in-vehicle business as one of the key work to be carried out in 2024.

XGIMI Technology's in-vehicle business focuses on three core in-vehicle projection scenarios, which are smart cockpit, smart headlight and HUD (Head-Up Display), trying to create a differentiated advantage of in-vehicle projection products and improve the in-vehicle business supply chain system.XGIMI Technology has stated that during the development of past projection products, the company has established a patent and technological reserve in the field of imaging optics, giving it a differentiated advantage in automotive projection application scenarios.

Currently, Yibin XGIMI has a production and manufacturing base covering an area of 280 acres in Yibin City, and has obtained IATF 16949 automotive industry quality management system compliance certification, having completed the research and development and sample delivery of multiple automotive products.

XGIMI Technology announced: "In the future, the company will continue to insist on long-term investment in the research and development and innovation of home and automotive projection technology."

As of the close on October 16, the total market value of XGIMI Technology was 4.806 billion yuan.

Xiangjie cooperates with several A-share companies

Public information shows that "Xiangjie" is a high-end smart electric vehicle brand jointly created by Huawei and BAIC New Energy, aiming to reshape the luxury electric vehicle sub-market pattern. The brand was officially announced in April and launched its first model, the Xiangjie S9, in August.

Now, Xiangjie is continuously expanding its A-share circle of friends.

On the evening of October 14, Appotronics Technology announced that the company recently received the second development定点 notice from BAIC New Energy, once again becoming its automotive optical solution supplier, supplying smart cockpit display products for the new Xiangjie model.

In mid-September, Huayang Group accepted institutional research and stated that the company's electronic exterior rearview mirror products have been equipped with the mass-produced Xiangjie S9.

Rhema Precision stated on the interactive platform that the seat comfort system parts and small total system products of the company's subsidiary, Xinzheng Parts, have been applied to the Xiangjie S9.Deyuan Nano stated on the interactive platform that lithium iron phosphate manganese (LiMnFePO4), as a new generation of cathode materials, will be used in new models such as the Xingjie S9 in 2024. The commercialization process of lithium iron phosphate manganese is further accelerated.

Zhejiang Xiantong announced on the interactive platform that the company exclusively supplies the full set of sealing strips for the Xingjie S9. Ruihu Mold stated on the interactive platform that the company provides some of the manufacturing equipment for the Xingjie S9 model.

According to the semi-annual report of Bohai Auto for 2024, the company has successfully achieved mass production and supply for large structural parts such as the longitudinal beams of the Xingjie model.