China's automotive industry is developing rapidly. The China Association of Automobile Manufacturers (CAAM) predicts that automobile production and sales in 2023 will exceed 2017 levels, reaching approximately 29 million vehicles, setting a new historical record. The development of new energy vehicles (NEVs) is even more remarkable. The latest statistics released by CAAM show that from January to September 2023, sales of NEVs in China reached 6.278 million units. Industry insiders predict that annual sales of NEVs are expected to reach 9 million units, with a penetration rate of 30%. Driven by the need to improve driving range, the demand for lightweighting in NEVs is particularly prominent. Carbon fiber composite materials, due to their advantages of being lightweight, high-strength, and designable, are finding excellent application opportunities in NEVs, especially in high-end models.

As a global provider of high-end carbon fiber composite solutions, Aosheng Technology has provided carbon fiber composite solutions to numerous NEV manufacturers in recent years. We have participated in the lightweighting applications of almost all mass-produced models in China, such as:

►  The carbon fiber composite hood of the BAIC BJ90 is the first mass-produced application of its kind in China.

►  The market response to T Company's carbon fiber tail wing has exceeded expectations;

►  Lotus's large-scale application of carbon fiber is a pioneering achievement;

►  Application of carbon fiber structural components in BYD's Yangwang series;

Our carbon fiber aerodynamic kits shone brightly on many of the models that JK showcased at the Guangzhou Auto Show in November, with the JK 001 FR's carbon fiber roof setting a world record for the largest carbon fiber roof.

With the localization of carbon fiber raw material development and innovation in molding technology, the production capacity and cost control of carbon fiber products will further align with the requirements of OEMs. The development of various new products and processes and the large-scale development of new energy vehicles mutually reinforce each other. For example, Aosheng's development and application of winding and thermoplastic processes have made it possible to compete with other materials in terms of production capacity and product cost.

In short, driven by factors such as the demand for lightweight vehicles, the implementation of the dual-carbon strategy, and consumption upgrades, the application of carbon fiber composite materials in automobiles will become increasingly widespread. Aosheng Technology will work with upstream and downstream enterprises to contribute to the development of new energy vehicles.