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Thursday, 02/27/2020 4:05:10 AM

Thursday, February 27, 2020 4:05:10 AM

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Stock code: 300328 Stock abbreviation: Yi'an Technology Announcement No .: 2020-008
Announcement of Dongguan Yi'an Technology Co., Ltd. on the response to the Shenzhen Stock Exchange's concern letter
The company and all members of the board of directors warrant that the information disclosed is true, accurate and complete, and free from false records, misleading statements or major omissions.
Dongguan Yi'an Technology Co., Ltd. (hereinafter referred to as "Yi'an Technology" or "Company") received the "About Dongguan Yi'an Technology Co., Ltd." issued by the Shenzhen Stock Exchange GEM Company Management Department on February 25, 2020. Letter of Attention (GEM Follow-up Letter [2020] No. 132) (hereinafter referred to as “Follow-up Letter”), the company attaches great importance to this and has carefully checked the issues mentioned in the follow-up letter item by item, and will now follow the letter The relevant questions are answered as follows:
Question 1. The basis for your company's identification of Tesla as a Tier 1 supplier, detailing the details of the products provided to Tesla, including the details of the products provided, the objects of the products provided, the sales volume and amount of the latest two years, and the credit Policies, account receivables, and receivables, etc., combined with orders in hand and contract signings, explain the impact of Tesla's business cooperation on your company's financial status and operating results, and prompt related risks.
Company response:
The company and Tesla started business cooperation of aluminum alloy CCB bracket parts as early as 2014. With the deepening of the cooperation between the two parties and based on the recognition of the company's research and development strength, the company started cooperation with Tesla in 2015 on new energy vehicle door lock covers and other accessories business. Tier 1 supplier and has continued to this day. In addition to Tesla's direct purchase from the company, Tesla has also purchased parts such as automobile cross beam devices from the company through Hydro's designation. In addition, TKP purchases parts such as steering systems from the company and supplies them to Tesla. Tesla has disclosed for its customers in the 2018 annual report and 2019 semi-annual report.
The company provided Tesla with a new energy vehicle door lock cover and became a Tisla Tier 1 supplier as follows:
The company's liquid metal materials have high strength, high hardness, corrosion resistance, wear resistance and other characteristics. In February 2015, the company began to intervene in the Tesla new energy vehicle door lock cover project and proactively provided it with samples of liquid metal car door lock covers. . Through a four-month development, the company ’s liquid metal car door lock covers
 
In terms of hardness and impact resistance, the customer has repeatedly tested. The excellent material characteristics and molding process of the liquid metal have fully met Tesla's product design requirements. The samples provided by the company have been approved by the customer. The company received an order from Tesla and mass-produced it in July 2015. Since then, liquid metal has been applied to Tesla Mod el X for the first time, and it is also the first application of liquid metal in the automotive field. It has a very important milestone. Meaning, a breakthrough of 0 to 1 was achieved for the subsequent expansion of liquid metal. Since the beginning of cooperation, all orders for car door lock covers have been placed directly by Tesla to the company, and the company has delivered directly to Tesla as a Tier 1 supplier.
Question 2: The specific situation of your company's new energy vehicle products, including product details, major customers of new energy vehicles, sales volume and amount of the latest two years, etc., combined with the above situation, explain that your company is interactive and easy to reply Tesla is the company Judgment basis for one of the important customers of new energy vehicle products.
Company response:
In recent years, in light of the booming new energy vehicle market and industry characteristics, the company has deeply cultivated new energy vehicle parts and components business, focusing on the planning and implementation of early market development, technology research and development, equipment and personnel planning, production capacity matching, inspection and testing, etc. Set up a professional automotive parts technical team, purchased high-precision 180T-4000T large die-casting machine, CNC machining center, large mold processing equipment and testing equipment, etc., to provide customers with professional and fast one-stop service to ensure the motor , Electric control, battery pack, liquid metal lock cover, steering gear and central control navigation, body structure parts and other new energy vehicle parts products were developed and delivered in time, and obtained domestic and foreign new energy vehicle manufacturers and parts The praise of system customers.
The new energy vehicle terminal brands involved in the company's current products include: BYD, Geely, Chrysler, Tesla, Karma, etc., and Tier 1 suppliers include: Ningde Times, LG, and so on. The company's direct customers include: BYD, Geely, Tesla, Karma, Ningde Times, LG, TKP, etc.
The company has the full process technology of new material products such as aluminum alloy and magnesium alloy, and has its own mold development capabilities. The production capacity of die-casting equipment ranges from 180T to 4200T. It covers all parts from large to small. Surface treatment and assembly line can meet the different requirements of new energy automobile parts.
At present, the new energy vehicle parts produced by the company are: battery pack shell, motor shell, electric control box, steering gear parts, etc.
Battery packs, electronic controls, and motors are core components of new energy vehicles. The battery pack is used to protect the outer shell of the battery. The product has a large external size, and has certain strength requirements, compactness requirements, and leak test requirements. In 2017, the company successfully produced Geely's first die-casting structure battery pack using a 4000T die-casting machine.
 
The product has good strength and structure, and the dimensional accuracy is much higher than the design of metal stamping structure. Excellent flatness, good sealing performance, and lightweight structure can reduce the weight of the battery pack, increase the cruising range of the electric vehicle, and increase the energy density of the battery. At the same time, the company has also developed BYD's battery pack for dump trucks and battery module parts for the K9 electric B US. Electric control is the key to the battery management system. The precision requirements of electric control and motor products are relatively high, and both have leak testing and strength requirements. The company successfully used BYD's large die-casting machine to develop BYD's electric control project. At present, the cooperation with LG customers on electric control and motor products is under development.
Automotive steering gear parts are mainly designed using magnesium alloy die-casting. Through the product's structural optimization design, the strength of magnesium alloy products can meet customer needs, and the weight of the product is 33% lighter than that of aluminum alloy. Lightweight has very good weight loss significance. At present, the company has cooperated with Dessenkrupp to supply parts for Tesla Model S, 3, X and other models.
In 2018, 2019 and January-February 26, 2020, the company's terminal sales of Tesla's products accounted for 36.43%, 39.76%, and 78.92% of the company's new energy vehicles, so the company judges that Tesla is the company's new energy One of the important customers of automotive products.
Question 3: The specific situation of the products provided by the company to the Ningde Times, including the details of the products provided, the objects of the products provided, the sales volume and amount of the latest two years, the credit policy, the accounts receivable and the payment situation, etc. 2. The signing of the contract explains the impact of business cooperation with Ningde Times on your company's financial status and operating results, and prompts related risks.
Company response:
The company has outstanding technology, production capacity and on-site management capabilities in new energy vehicle lightweight new materials, and has strong lean production capabilities and complete industrial chain advantages. The company has precise die-casting technology (the company has a high-precision 180T-4000T large-scale die-casting machine), a precision CNC machining center and testing equipment to ensure the stability and precision of automotive products, and can meet customers' product function and price requirements. To provide customers with professional and fast one-stop services. The company has already achieved mass production and delivery of new energy automobile parts and components such as motors, electronic controls and battery packs, and has obtained domestic and foreign new energy automobile manufacturers and parts systems. Customer praise.
The company began business and technical cooperation with Ningde Times in 2018, and passed the Ningde Times inspection at the end of 2018 and successfully obtained the supplier code.
 
Based on the company's advanced production and technical strength in the field of new energy vehicles, it has a highly complementary advantage with the Ningde era. The company became one of its core suppliers in 2019, and carried out a number of cooperation with it, including the technology of casting magnesium alloys for new energy vehicle battery packs. Through multi-level technical discussions and tests, there are currently magnesium / aluminum alloy battery packs. There are 11 types of end plates, 1 type of aluminum alloy battery case is under development, and dozens of magnesium / aluminum alloy new energy battery pack accessories projects are under evaluation and development. A small number of battery pack samples were shipped from January to February 26, 2020. Therefore, since the two parties are currently in the preliminary cooperation stage and have not yet entered the mass production stage, accounts receivable, income receivables, and orders in hand are all relatively small, and the impact on the company's financial position and operating results is relatively small.
At present, the cooperation between the company and Ningde Times is progressing steadily, and further cooperation agreements are planned to be signed. Equipment and personnel are also continuously invested. According to the current situation, the company is expected to partially enter mass production in the second quarter of 2020. Exclude the risk that the situation is expected to change in the future.
Question 4. Your company stated that it has the basis for the production capacity of liquid metal hinges and provides a basis for bulk supply for customers. It also discloses the basic development of liquid metal hinges, including the company's main application areas of liquid metal hinges, the situation of major customers, Period sales and amount, credit policy, receivables and receivables, orders in hand and the impact on the company's financial position and operating results.
Company response:
Liquid metal, also known as bulk amorphous alloy, is called the third material revolution. It has the characteristics of multi-component material composition, and does not undergo a phase change during solidification molding, thereby forming an amorphous microstructure. The microstructure There are no lattices and grain boundaries, and then there is no origin of fracture failure, so that the material has many excellent properties such as high strength, high elasticity, and high corrosion resistance. The material is three times stronger than stainless steel and three times more elastic than titanium.
Since 2012, the company has cooperated with the Chinese Academy of Sciences Institute of Metals to develop relevant technologies for liquid metals. In order to further accelerate the development of materials, the company established the New Materials Research Institute in 2017, which further strengthened its research and development strength. At present, the company has the ability to develop and produce liquid metal materials, equipment development and production, mold design and processing, product development and production. The company has mass-produced liquid metal products including car door locks, USB interfaces, mobile phone side decoration parts, camera decoration parts, Face-ID brackets and many other products.
The application fields of liquid metal hinges are: 1. Folding screen mobile phone hinges, folding screen mobile phones in both inward and outward folding schemes require liquid metal hinge structural members; 2. Notebook hinge structural members, such as
 
Flat shaft structure, etc .; 3. Smart watch bracelet link structure.
2019 is a very important year for folding screen mobile phones.The key to the design of folding screen mobile phones is the strong hinge.
And precision, and liquid metal has the characteristics of high precision, high flatness, and high strength, which is one of the materials of choice for shaft-knot components. So far, the company has provided two liquid metal hinges for the largest domestic mobile phone terminal customers, which are respectively defined as the first and second generations, as follows:
The first-generation liquid metal hinge project was evaluated in July 2018, and the mass production time was October 2019;
The second-generation liquid metal hinge project was evaluated in October 2019, and mass production began in November 2019. So far, it can meet customer order requirements.
According to the contract signed between the company and the customer, the credit policy of liquid metal hinge products is 60 days and 90 days per month. Up to now, customers can pay back in time according to the contract.
This project is a key project of the customer. Signing a confidentiality agreement with the customer. The related data such as the amount of delivery and the amount of delivery will have a certain impact on the customer's market. It belongs to the customer's important business secrets and belongs to the scope of confidentiality agreement management.
Question 5. Please combine the responses to the above questions, and explain one by one whether your company ’s relevant responses in Interactive Easy are objective, true, accurate, complete, and fair to introduce and reflect the company ’s actual situation, and whether there are misleading statements. Please self-examine and explain whether your company has replaced the temporary announcement with interactive easy responses, whether undisclosed information should be disclosed, and whether the aforementioned interactive easy responses exist to actively cater to market hotspots and speculate on the company's stock price.
Company response:
The content of the company's interactive platform involving Tesla's response to its customers has been disclosed in previous periodic reports, which is basically the same as the content previously disclosed, as follows:
Disclosure form Disclosure time Disclosure address Disclosure content
       Periodic reports
    2017/8/22
   The full text of the semi-annual report 2017
   In terms of new energy vehicles, liquid metal products have entered the new energy vehicle market, and the company has been steadily supplying liquid metal locks to Tesla. For liquid metals, as of the end of the reporting period, the company entered the supply chain of well-known customers at home and abroad, such as Tesla.
   Periodic reports
     3/30/2018
    2017 Annual Report Section 4 Discussion and Analysis of Business Situation-Overview
    In terms of new energy vehicles, the company has been steadily supplying Tesla with liquid metal locks. As for liquid metals, the company's liquid metal products currently have locks, trays, hinges, and USB devices.
  
             Trim, fingerprint module bracket, camera appearance, middle frame, mobile phone metal frame and other products are in mass production. As of the end of the reporting period, the company has established a good cooperative relationship with well-known customers at home and abroad such as Tesla.
   Periodic reports
    8/16/2018
   The full text of the semi-annual report for 2018
   In terms of new energy vehicles, as of the end of the reporting period, the company established cooperative relationships with well-known international and domestic customers such as Tesla. In terms of liquid metal, liquid metal has entered mass production in Tesla's car door locks, mobile phone holders, hinges, USB decorative parts and other products. As of the end of the reporting period, the company has established a good cooperative relationship with well-known customers at home and abroad such as Tesla.
   Periodic reports
   2019/4/2
  2018 Annual Report Section 4 Discussion and Analysis of Business Situation-Overview
  In terms of new energy vehicles, as of the end of the reporting period, the company established cooperative relationships with well-known international and domestic customers such as Tesla. In terms of liquid metal, liquid metal can not only meet the requirements for the thickness of structural parts and the complex structure of folding screen mobile phones, but also have a high cost-performance ratio for commercial preparation. As of the end of the reporting period, the company has established good cooperative relations with well-known customers at home and abroad such as Tesla.
   Periodic reports
     8/28/2019
    Full text of the semi-annual report for 2019
    In terms of new energy vehicles, as of the end of the reporting period, the company established cooperative relationships with well-known international and domestic customers such as Tesla. In terms of liquid metal, the company actively cooperated with well-known mobile phone customers in the design and supply of liquid metal hinges. As of the end of the reporting period, the company has established a good relationship of cooperation with well-known domestic and foreign customers such as Tesla.
  According to the relevant provisions of the Shenzhen Stock Exchange's GEM Stock Listing Rules, the related issues involved in the reply to the above questions did not meet the major event disclosure standards. The company attaches great importance to interacting with investors. Based on a serious and responsible attitude towards investors, it responds to investors' questions after careful verification. The relevant responses are objective, truthful, accurate, complete and fair to introduce and reflect the actual situation of the company. , There are no misleading statements. Therefore, the company does not use the interactive platform to replace the temporary announcement, there is no information that should be disclosed without disclosure, and there is no such situation as actively catering to market hotspots and speculating on the company's stock price.
Question 6. Please explain the situation in which your company's directors, supervisors, senior management personnel, controlling shareholders, and shareholders holding more than 5% of shares have bought or sold your company's stock in the past month. Are there any insider trading and market manipulation situations? During the month, whether the above-mentioned personnel have a reduction plan, verify whether your company has used the interactive easy response to cooperate with the reduction of the above-mentioned personnel.
Company response:
 
As verified by the company, the company's directors, supervisors, senior management personnel, controlling shareholders, and shareholders holding more than 5% of the shares have not been buying or selling the company's shares in the past month, and there has been no insider trading or market manipulation.
As of the response date of this letter of concern, the company has not received any plans from the company's directors, supervisors, senior management personnel, controlling shareholders, and shareholders holding more than 5% shares to reduce the company's shares in the next six months. If the company's directors, supervisors, senior management personnel, controlling shareholders, shareholders holding more than 5% of the shares have plans to reduce their holdings, the company will promptly perform its information disclosure obligations in accordance with the requirements of relevant laws and regulations, departmental regulations and regulatory documents. The company's directors, supervisors, senior management personnel, controlling shareholders, and shareholders holding more than 5% of the shares have not bought or sold the company's stocks in the past month. Therefore, there is no case where the company uses interactive easy responses to cooperate with the above personnel to reduce their holdings.
Special announcement.
Board of Directors of Dongguan Yi'an Technology Co., Ltd.
February 27, 2020

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