3 Lishun precision car road

In order to develop new profitable businesses, Lisun Precision began a multi-field layout in addition to consumer electronics, and the automotive business was placed in a high priority. In the three five-year plans repeatedly mentioned by Lichun Precision, the automotive business is one of the most core businesses.

In fact, Lisun Precision began the layout of the automotive industry very early.

In 2012, Lichun Precision acquired 55% of the equity of Source Optoelectronics, expanding its business to automotive connectors and wiring harnesses.

The 2019-2020 Annual report states that “the evolution of automobiles to intelligent vehicles will usher in a golden decade.”

In the fixed increase plan released in February 2022, 2 billion yuan of funds are invested in high-voltage connection systems for new energy vehicles and intelligent vehicle connection systems.

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Today, the product line of Lishun precision automotive business segment has covered core components such as automotive wiring harnesses, connectors, intelligent networking, intelligent cockpit and new energy vehicle power systems, and has conducted close business cooperation with automotive companies such as Chery.

In the investor research note at the end of August, Lisun Precision predicted that 2024-2025 will be a normal growth period for its automotive business, and after 2025, the company’s automotive Tier 1 business is expected to truly break out. In addition, Lichun Precision also said: in the next 3-5 years, the company’s communication sector will have a very fast and high-quality development.

However, the half-year report of 2023 shows that consumer electronics is still the lifeblood of Lichun precision. In the first half of the revenue of about 97.97 billion yuan, consumer electronics accounted for 84.57% of about 82.86 billion yuan, and automotive connected products and precision components accounted for only 3.27%.

From the connection line, connector, to cut into Huawei, Apple OEM, to one of the three giants of Apple supply chain, and now find another independent business. Looking back at the past, Lishun Precision has grown with the business of Apple, and now it has developed from the initial nobody into a huge consumer electronics intelligent manufacturing solution provider.