Portfolio Updates

 

Financing Updates

▌MeriTech Raises RMB100 Million Within Six Months

Founded in 2021, MeriTech is a leading domestic supplier of high-performance analog and mixed-signal chips for intelligent connected vehicles in China. The company raised nearly RMB100 million in several rounds in six months. MeriTech plans to mass produce 12Gbps SerDes in the third quarter of this year, a premium product supporting 17-megapixel camera transmission, and 6Gbps/3Gbps to meet mass market demands.

 

Business Updates

▌Pony.ai Gets Green Signal for Unmanned Robotaxi Service in Shanghai

Autonomous driving solution provider Pony.ai received one of Shanghai’s first permits for the demonstration of driverless intelligent connected vehicles. The permit allows passengers in Shanghai's Pudong district to book unmanned robotaxi rides across a 205-kilometer route. This achievement follows Pony.ai's similar unmanned operation permits in Beijing, Guangzhou, and Shenzhen, marking another significant milestone in its commercial expansion. 

 

 

▌TRUNK Helps Yantai Port Build Vehicle Export-focused Intelligent Green Transportation System

 

TRUNK, China’s leading company in autonomous trucking services, has helped Yantai Port in Shandong Province build an unmanned transportation system to move cars from land to ships for exporting, setting a more environment-friendly and cost-effective example of smart logistics for Chinese ports.

 

 

▌Momenta Unveils Groundbreaking Smart Driving System for AION’s New Model

AION, the new energy vehicle arm of GAC, launched its first global strategic model with the end-to-end advanced intelligent system of Momenta, a leading autonomous driving technology company.

 

Emulating human-like intelligence, Momenta's algorithm 5.0 has been integrated into this system to equip cars with the ability to “understand” their surroundings, think and react like experienced drivers, and ultimately provide a driving experience that matches or exceeds human capabilities. The system aims to transform the driving experience by providing high-level and full-scene intelligent driving capabilities. 

 

▌BIBO's One-Box Now in Mass Delivery

China’s intelligent chassis solution supplier BIBO’s products have entered the mass production phase, with monthly deliveries exceeding 30,000 units, including Integrated Brake Control System (BIBC/One-Box), Brake-by-Wire Decoupled Electro-Hydraulic Braking System (BDBS), BIBO Electronic Stability Control (BESC), and BIBO Anti-lock Braking System (BABS). The One-Box production line boasts world-class design standards, achieving an annual production capacity of 500,000 units.

 

 

▌Black Sesame Technologies’ Chip Facilitates Smart Driving System Upgrade

 

Automotive computing chip supplier Black Sesame Technologies’ A1000 chip has successfully helped Dongfeng Motor’s eπ007 model upgrade its intelligent driving capabilities. The upgrade enhances the vehicle’s advanced driving functions, including expressway NOA (Navigation on Autopilot) and LAPA (Long-range Automated Parking Assist), along with several practical features and user experience improvements.

 

Now in widespread mass production, Huashan-2 A1000 has won a special liking of many leading automobile enterprises.

 

 

▌Black Sesame Technologies Ventures into Vehicle-Road-Cloud Business 

 

Black Sesame Technologies launched an autonomous driving freight logistics corridor across Beijing, Tianjin, and Hebei regions. At the Majuqiao toll station merging area toward Tianjin, Black Sesame Technologies delivered a comprehensive holographic ramp solution, allowing autonomous vehicles making lane-changing decisions partly based on roadside sensing data in open road conditions. This signifies that the company has entered the integrated vehicle-road-cloud application area.

 

▌PCG Power’s 10MW Solar Power Project Commences

PCG Power, a comprehensive energy management service provider, has implemented its 10MW solar power project located in both Guangdong Province and the Guangxi Zhuang Autonomous Region. The company has made full use of the concrete rooftops within the zone, installing high-efficiency photovoltaic modules and successfully integrating them into the internal 10kV power distribution system. It is estimated that over a period of 25 years, the total electricity generation of the project will reach about 270 million kWh, equivalent to saving about 4,374 tons of standard coal annually and reducing CO2 emissions by 10,902 tons per year. The environmental benefits of this project are comparable to planting 6 million trees each year.

 

 

▌PCG Power Energy Storage Projects Connected to Grid

 

With the efforts of PCG Power and Huanggang Zhengchuang Electric Power Company, the 17.5MW/35MWH energy storage project was grid-connected. After its successful operation, it's expected to reach 20 million kWh of annual peak-shaving electricity, alleviating the peak electricity pressure for over 60 high-voltage dedicated transformer users annually and enhancing the regional power grid's autonomous regulation capability.

 

PCG Power helped launch a distributed solar project in Zhejiang. This project utilized nearly 100,000 square meters of factory roof and carport space of Zhejiang Tederic Equipment Company. Through distributed photovoltaic power generation technology, it achieved clean energy self-generation and self-consumption.

 

▌Nanopore’s New Production Line Enters Full Operation

 

China's new material company Nanopore has imported advanced equipment from ULVAC, Inc., a Japanese firm, to establish a production line for composite aluminum foil current collectors. This action significantly improves the product performance, guarantees production efficiency and capacity planning, and further strengthens Nanopore's advantages in the industry. As of now, the production line has been successfully delivered, installed, and put into operation.

 

▌AlphaEss Helps Enterprises in Wenzhou Withstand Heat Wave

AlphaEss, an energy storage solution and service provider, launched the 3.44 MWh distributed energy storage project for several high-energy-consuming enterprises in Wenzhou, Zhejiang Province. 

 

The project is anticipated to enable businesses to capitalize on the local price variance between peak and valley electricity, reducing their electricity expenditures and easing the pressure during peak power demand intervals.

▌BoCloud Assists the Release of the First Cloud-Native National Standard

Software provider BoCloud participated in establishing the first cloud-native national standard of China. It stipulates the functional framework and technical requirements for platforms supporting the lifecycle of cloud-native applications. This standard is applicable to the design and selection of products and services, marking it the first national standard in the field of cloud-native technology.

 

Cooperations & Partnerships

▌Pony.ai Inks MoU with Transport Operator ComfortDelGro

 
Autonomous driving solution provider Pony.ai signed a memorandum of understanding (MoU) with ComfortDelGro, a leading multi-modal transport operator, aiming to co-develop tailored safe and sustainable autonomous vehicle (AV) solutions for future deployment in different international markets. This partnership represents a groundbreaking shift in collaboration mode while propelling the widespread application of autonomous driving in the global mobility sector.

 

▌Rhino Establishes Strategic Cooperation with SenseAuto

 

Rhino, a provider of autonomous driving chips, and SenseAuto formed a strategic cooperation agreement.

 

Rhino will deploy its first high-performance chip on UniAD, an end-to-end autonomous driving solution to be provided by SenseAuto, the auto unit of SenseTime, to power large-scale models in cars and bolster automakers' data closed loop.

 

 

▌PCG Power Collaborates with Haier

 

PCG Power, an energy management and service provider, has commenced building a 5.99 MW distributed photovoltaic project at Haier Air Conditioning in Dalian, Liaoning Province.

 

The project is projected to generate a total of about 162.68 million kWh over 25 years, equivalent to saving about 2,602.90 tons of standard coal annually and reducing CO2 emissions by roughly 6,487.74 tons per year. 

 

Its environmental benefits are comparable to planting about 354,600 trees each year. Both sides are working together to set a benchmark for green development in the home appliance industry.

 

▌PCG Power Cooperates with Pharmaceutical Company Neptunus

PCG Power has started construction of a 1.2 MW rooftop photovoltaic project for Chongqing Neptunus. It is estimated that over a 25-year operational period, the total power generation from the project will reach about 25.9 million kWh. This is equivalent to saving about 414 tons of standard coal per year and reducing CO2 emissions by about 1,033 tons annually. The environmental benefits are comparable to planting around 56,500 trees every year.

 

▌RT-HITECH Joins Hands with CITIC GUOAN

RT-HITECH, a developer of lithium battery cathode materials, and CITIC GUOAN have signed a pact to jointly cultivate and advance the development of battery-grade lithium phosphate products. CITIC GUOAN has pioneered a landmark demonstration project for battery-grade lithium carbonate, which stands out as a global front-runner, boasts the nation's highest single-unit production capacity, employs state-of-the-art processing techniques, operates with a low-carbon footprint, and integrates intelligent automation.

▌AutoLink Achieves Strategic Cooperation with Mobile Drive Technology

 

AutoLink, a smart cabin provider, formed a strategic cooperation agreement with Mobile Drive Technology Co., Ltd. to enhance the intelligence of automobiles and enrich the in-vehicle experience for users by sharing resources and integrating technologies, simultaneously driving the advancement and application of relevant technologies.

 

Global Expansion

 

▌CALB Brings Innovative Products to EES Europe 2024

CALB, an energy operation system provider, unveiled new energy full-scene products and solutions represented by large-scale power, industrial and commercial and household energy storage at EES Europe 2024. This time the focus was on showing the 314Ah high-specific energy, long-life energy storage cell and supporting solutions that were first defined and launched. Among them, the second generation of ultra-long cycle energy storage cells were also presented, which were launched to further meet the market demand for long-life cells.

 

 

▌SUNMAN Energy Exhibits Products in Thailand and Vietnam to Attract Overseas Buyers

China’s solar panel manufacturer SUNMAN Energy displayed its major products on ASEAN Sustainable Energy Week (ASEW) in Bangkok, Thailand, one of ASEAN’s largest and most comprehensive renewable energy technology exhibitions, and Solar & Storage Live Vietnam, a premier solar energy and storage technology event in Vietnam and beyond.

 

 

▌UW Laser Shows Products in India, and at AMTS and Electronica China

Leading supplier of laser welding equipment and automation solutions, United Winners (UW) Laser took part in the 5th edition of the Green Vehicle Expo held in India and presented its mature solutions for lithium battery production.

 

UW Laser showcased its cutting-edge automated and intelligent products, technologies, and innovative solutions at AMTS 2024. At Electronica China, it presented a range of products to be applied in sectors such as general automation, 3C electronics, and sensors.

 

Sustainability Practices

▌AlphaESS Releases 2023 Sustainability Report

 

AlphaESS, a leading global green energy storage solution and service provider, has published its 2023 Sustainability Report to highlight its ESG practices featuring environmental stewardship, innovation, and community engagement.

 

Since its inception in 2012, AlphaESS has been committed to “making smart, clean energy accessible to every person around the globe” and has offered green electricity to households and enterprises in over 90 countries and regions throughout the world. 

 

 

Honors & Awards

 

▌EV-Tech Wins the ‘Outstanding Quality Award’ by Xiaomi

Zhejiang EV-Tech, a Chinese high-tech enterprise focusing on core components of new energy vehicles, was honored with the “Outstanding Quality Award” by Xiaomi. The company stood out from over 200 automotive component suppliers.

 

▌SiChain Semiconductors Receives Automotive Quality Management Certification

 

SiChain Semiconductors (Ningbo) Co., Ltd. a chip firm focused on the R&D and industrialization of Silicon Carbide semiconductors and its power devices, has gained the IATF1694 Certification, which is the Quality Management Systems standard for the automotive industry set by the IATF (International Automotive Task Force). The standard applies the ISO 9001:2015 Quality Management System as the foundation of the standard and incorporates the latest automotive standards spanning the globe. The IATF 16949 has now become one of the most widely used international standards in the automotive industry for quality management.

 

 

▌Hiway’s Testing Capability Wins National Recognition

 

The Testing & Validation Lab of Hiway, a smart cockpit solutions provider, has gained recognition from the China National Accreditation Service for Conformity Assessment (CNAS). Such certificates are recognized by 153 countries and regions, having international reciprocity, authority, and credibility.