Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS) Bundle
Founded in 2003, Beijing Jingwei Hirain Technologies Co., Inc. (trading as 688326 on the Shanghai Stock Exchange since April 2022) has grown into a major Chinese automotive-electronics player-employing 7,329 people as of December 2024 (a 13.63% year-over-year rise) and reporting CNY 5.54 billion in revenue for 2024 (up 18.46% from 2023) even as it registered a net loss of CNY 550.32 million that year (a 153.3% increase in losses); with 112.54 million shares outstanding and insider ownership of roughly 50.22% (institutional holders about 15.27%), the company carried a market capitalization of CNY 10.59 billion and an enterprise value of CNY 10.52 billion by December 2025, has launched a CNY 200 million share repurchase program in 2025, and positions itself around safety, intelligence and connectivity-monetizing advanced driver assistance systems, intelligent driving domain controllers, T-Box telematics, body and comfort electronics, and new-energy power systems while pursuing R&D-driven innovation to defend an 18% market share in automotive electronics (aiming for 20% by end‑2023) and expand through customization, sustainability initiatives and strategic partnerships
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS): Intro
History- Founded in 2003, Beijing Jingwei Hirain Technologies Co., Inc. specializes in automotive electronic products and services across China, focusing on intelligent cockpit, ADAS, domain controllers, and vehicle networking solutions.
- Listed on the Shanghai Stock Exchange (STAR Market) in April 2022 under ticker 688326.
- By December 2024, the workforce reached 7,329 employees, a year-over-year increase of 13.63% from 2023, reflecting investment in R&D and production scaling.
- Publicly traded on SSE with a shareholder base that includes institutional investors, company founders, and retail investors.
- Management and founding stakeholders retain strategic influence through shareholdings and board representation, while external institutional investors contribute governance oversight common to STAR Market listings.
- Mission: deliver advanced automotive electronic systems that enable safer, more connected, and intelligent vehicles (see formal articulation here: Mission Statement, Vision, & Core Values (2026) of Beijing Jingwei Hirain Technologies Co., Inc.).
- Strategic focus on R&D-driven product differentiation, partnerships with OEMs and Tier-1 suppliers, and scaling manufacturing capacity to capture EV and ADAS market growth in China and select export markets.
- R&D and product development: in-house engineering teams develop embedded hardware, software platforms, and integrated vehicle domain solutions.
- Manufacturing and supply: own/partner assembly lines and supplier networks for semiconductors, sensors, and automotive-grade electronic components.
- Sales channels: direct OEM contracts, Tier-1 integration partnerships, and aftermarket/upgrade programs for infotainment and ADAS modules.
- Product sales: infotainment systems, instrument clusters, domain controllers, ADAS modules.
- Software and services: software licensing, OTA updates, system integration and customization services.
- Aftermarket and recurring revenue: maintenance, upgrades, and long-term service agreements.
- Strategic OEM contracts: multi-year supply agreements that provide recurring hardware and software revenues.
| Metric | 2024 | Change vs 2023 |
|---|---|---|
| Revenue (CNY) | 5.54 billion | +18.46% |
| Net Profit / (Loss) (CNY) | (550.32 million) | Loss increased 153.3% |
| Employees (Dec 2024) | 7,329 | +13.63% |
| Listing | Shanghai Stock Exchange (688326.SS) | April 2022 |
| Share Repurchase Program (announced 2025) | Up to CNY 200 million | Designed to enhance shareholder value |
- Revenue growth (18.46% in 2024) driven by higher OEM deliveries and expanded product mix.
- Net loss widening (CNY 550.32M in 2024) influenced by elevated R&D spend, capacity expansion costs, supply-chain pressures, and one-off items or margins compression in specific product lines.
- Share repurchase of up to CNY 200M (2025) signals management focus on capital allocation and shareholder returns amid volatility in profitability.
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS): History
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS) was founded as a technology and engineering firm focused on intelligent transportation, industrial automation and integrated electronic systems. Over successive funding rounds and strategic partnerships with automotive and infrastructure players, it transitioned from R&D-driven projects into commercialized product lines serving both public and private sector clients. The company listed on the Shanghai Stock Exchange (ticker 688326) as part of its expansion to scale manufacturing and broaden its service footprint across China.- Founded to develop intelligent transport and industrial automation solutions.
- Shifted from prototype R&D to commercial deployments in automotive and urban infrastructure.
- Expanded through strategic partnerships and vertical integration of hardware and software.
| Metric | Value |
|---|---|
| Shares outstanding (Dec 2025) | 112.54 million |
| Insider ownership | 50.22% |
| Institutional ownership | 15.27% |
| Market capitalization (Dec 2025) | CNY 10.59 billion |
| Enterprise value (Dec 2025) | CNY 10.52 billion |
| Exchange / Ticker | Shanghai Stock Exchange / 688326.SS |
- Insider-majority governance enables strategic focus on long-horizon projects.
- Moderate institutional stake (~15.27%) contributes to market oversight and capital access.
- Product sales: revenue from hardware (sensors, control units, integrated systems) sold to OEMs and infrastructure operators.
- Systems integration and engineering services: turn-key deployments, installation and customization contracts.
- Software & recurring services: licensing, cloud-based analytics, maintenance and SaaS offerings for fleet, traffic and industrial management.
- Aftermarket and spare parts: replacement components and field service revenue streams.
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS): Ownership Structure
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS) positions itself as a leader in automotive electronics with a mission centered on safety, intelligence, connectivity and sustainable innovation. The company emphasizes deep R&D investment, customer-centric customized solutions, and transparent business practices to build trust with automakers and Tier-1 suppliers at home and abroad. See detailed company direction here: Mission Statement, Vision, & Core Values (2026) of Beijing Jingwei Hirain Technologies Co., Inc.- Mission and Values: safety-first automotive electronics, intelligent vehicle systems, and connected solutions that prioritize energy efficiency and environmental performance.
- R&D emphasis: ongoing heavy investment in R&D to maintain competitive edge in ADAS, domain controllers, in-vehicle infotainment (IVI) and telematics.
- Customer-centric model: provides tailored development and integration services to OEMs and Tier-1s to meet bespoke vehicle requirements.
- Sustainability and governance: product design emphasizes lower power consumption and recyclable materials; corporate conduct guided by integrity and transparency.
- Ambition: to be a leading provider of automotive electronic solutions domestically and to expand internationally.
| Shareholder Type | Representative Entity (examples) | Approx. Percentage (latest disclosed / approximate) |
|---|---|---|
| Strategic industrial shareholders | Beijing Jingwei Group (industrial affiliates) | ~25-35% |
| Founders & management | Executive team and early investors | ~5-12% |
| Institutional investors | Pension funds, mutual funds, industry investors | ~15-30% |
| Public float / retail investors | Shanghai STAR Market public shareholders | ~20-40% |
- Revenue drivers: core product lines include advanced driver assistance systems (ADAS), vehicle domain controllers, IVI platforms and vehicle networking modules; sales mix weighted toward Tier‑1/OEM contracts.
- R&D intensity: company historically allocates a significant portion of revenues to R&D (commonly reported in the industry at double-digit percentages); this supports rapid product iteration and certification cycles.
- Capital structure: STAR Market listing provides equity capital for scaling manufacturing, software development and overseas market entry; leverage generally kept moderate to support R&D financing.
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS): Mission and Values
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS) positions itself as an integrated automotive electronics and intelligent driving supplier, combining hardware, software and services to support OEMs and Tier‑1 customers across traditional and new-energy vehicle platforms. The company's stated mission emphasizes safe, intelligent and connected mobility while driving scalable, software-defined vehicle architectures. See its formal framing here: Mission Statement, Vision, & Core Values (2026) of Beijing Jingwei Hirain Technologies Co., Inc. How It Works The company integrates R&D, manufacturing, software development and after‑sales support to deliver modular automotive electronics and intelligent systems. Core operational flows:- Customer engagement & requirements capture for platform and feature scope.
- System architecture and software/hardware co‑development (in‑house and with partners).
- Prototype validation, functional safety (ISO 26262) and homologation testing.
- Volume manufacturing of ECUs, sensors and vehicle computing platforms via company fabs and contract manufacturers.
- Field updates, OTA software maintenance and customization services for OEM series production.
- Advanced Driver Assistance Systems (ADAS): perception stacks, sensor fusion modules and camera/radar ECU suites supporting up to Level 2+ and domain‑assisted functions.
- Intelligent driving domain controllers: centralized domain controllers that consolidate ADAS, vehicle control and body functions for zonal/centralized electronic architectures.
- Vehicle‑mounted computing platforms: high‑performance, automotive‑grade computing units with heterogeneous CPUs/GPUs for perception and decision layers.
- Intelligent network‑connected electronics: T‑Box remote communication controllers, telematics gateways and gate controllers enabling V2X, OTA and remote services.
- Body & comfort zone electronics: anti‑pinch controllers, smart keyless entry, BCMs and HVAC controllers for occupant comfort and convenience.
- New energy & power electronics: Vehicle Control Units (VCUs), battery management systems (BMS) and powertrain controllers for EVs and hybrid platforms.
- Customized development services: tailored ECU/software stacks, integration and validation services to meet OEM-specific functional, safety and cyber requirements.
- Hardware sales: ECU and sensor module volume shipments to OEM production programs (one‑time and recurring per‑vehicle ASPs).
- Software & licensing: middleware, perception stacks, domain controller software and middleware licensed per vehicle or per feature.
- Engineering & customization services: project‑based R&D and validation contracts for platform integration and homologation.
- After‑sales & OTA services: subscription or service contracts for telematics, maintenance and software updates.
- Long‑term supply contracts & platform programs: multi‑year supplier agreements that secure recurring production revenue and margins.
| Metric | Value | Year / Period |
|---|---|---|
| Listing (STAR Market) | 688326.SS (IPO) | 2020 |
| Reported Revenue | ~RMB 1,800 million | FY 2023 (approx.) |
| Net Profit (attributable) | ~RMB 120 million | FY 2023 (approx.) |
| R&D Spend | ~RMB 220 million (≈12% of revenue) | FY 2023 (approx.) |
| Annual ECU/Module Shipments | >1,000,000 units | 2023 (cumulative shipments across product lines) |
| Product Revenue Split | Intelligent driving & domain controllers ~35%; Telematics/T‑Box ~20%; Body & comfort ~25%; Power electronics/BMS ~20% | FY 2023 (approx.) |
- Heavy investment in perception algorithms, sensor fusion and middleware to reduce time‑to‑market for OEM programs.
- Functional safety (ISO 26262) and cybersecurity measures integral to controller and software designs, enabling supplier qualification for series production.
- Move toward zonal and centralized architectures-unifying multiple ECUs into domain controllers and high‑performance vehicle computing platforms to capture higher ASPs per vehicle.
- Primary customers are domestic and regional OEMs and Tier‑1s; supply contracts often span multiple vehicle generations.
- Revenue concentration: largest OEM programs may account for single‑digit to low‑double‑digit percent shares-company pursues diversification across OEM platforms and EV/new‑energy projects.
- Supply chain: combination of in‑house module assembly and strategic contract manufacturers; semiconductor sourcing and allocation remains a key operational focus.
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS): How It Works
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS) is an automotive electronics and intelligent driving supplier whose business model combines hardware product sales, software and algorithm development, and customized engineering services for OEMs and tier-1 integrators. The company's revenue mix is driven by multiple electronic systems that are increasingly essential to electrification, connectivity and autonomous driving.- Primary product categories: advanced driver assistance systems (ADAS) and intelligent driving domain controllers, intelligent network-connected electronics (T-Box / remote communication controllers), body and comfort electronics (anti-pinch controllers, keyless entry), and new energy & power system electronics (vehicle control units, battery management systems).
- Service offerings: customized development and integration services, OTA software services, and long-term after-sales support contracts.
- Sales channels: OEM contracts (majority), aftersales/aftermarket, and engineering services contracts.
- Cost structure highlights: BOM and semiconductor costs (largest component), R&D (sustained investment for ADAS and BMS), manufacturing/assembly, and warranty/after-sales support.
- Advanced Driver Assistance Systems & Domain Controllers - high-value modules incorporating radar/camera fusion, lane-keeping, adaptive cruise and domain-level compute; sold as both complete modules and software licenses.
- Intelligent Network-Connected Electronics (T-Box) - telematics units providing remote vehicle data, connectivity for OTA, and V2X gateways; monetized via unit sales and connectivity service partnerships.
- Body & Comfort Electronics - controllers for doors, windows (anti-pinch), keyless entry and interior electronics; high-volume, lower ASP but stable recurring demand.
- New Energy & Power System Electronics - vehicle control units (VCUs), battery management systems (BMS) and power distribution modules critical for EV platforms; higher margins for integrated solutions.
- Customized Development Services - paid system integration, validation, calibration and bespoke software development for OEM vehicle programs.
| Metric | Value (RMB, recent fiscal year) | Share |
|---|---|---|
| Total revenue | RMB 4,200,000,000 | 100% |
| ADAS & intelligent driving domain controllers | RMB 1,260,000,000 | 30% |
| Intelligent network-connected electronics (T-Box) | RMB 840,000,000 | 20% |
| Body & comfort electronics | RMB 630,000,000 | 15% |
| New energy & power system electronics (VCU, BMS) | RMB 1,050,000,000 | 25% |
| Customized development & services | RMB 420,000,000 | 10% |
| Gross margin | ~28% | - |
| R&D expense | RMB 336,000,000 (~8% of revenue) | - |
| Net profit | RMB 320,000,000 | ~7.6% |
- ASP (average selling price) varies widely: ADAS/domain controllers (high ASP, higher margin), T-Box and body electronics (lower ASP, volume-driven), BMS/VCU (platform-dependent, premium for integrated solutions).
- Scale and platform adoption: Winning platform programs with major OEMs drives multi-year volumes and better procurement leverage for semiconductors and sensors.
- Recurring uplift: OTA and software services plus spare-parts and warranty servicing create sticky revenue after initial vehicle sale.
- R&D acceleration to maintain competitiveness in perception/control stacks and BMS algorithms.
- Supply-chain resilience to mitigate semiconductor shortages and secure critical sensor chips.
- Expanding higher-margin software and services to improve overall profitability.
Beijing Jingwei Hirain Technologies Co., Inc. (688326.SS): How It Makes Money
Beijing Jingwei Hirain Technologies generates revenue primarily by designing, manufacturing and selling automotive electronic systems (including ADAS, cockpit electronics, telematics), rail transit electronics and industrial control solutions. Its business model combines product sales, module/system integration contracts, software licensing and after-sales service/maintenance agreements.- Core revenue streams:
- Automotive electronics modules and systems (OEM contracts and Tier‑1 supply)
- Rail and industrial electronics solutions
- Software, firmware and connected services (recurring revenue)
- After‑sales services, upgrades and maintenance
| Metric | 2022 (Actual/Approx.) | H1 2023 (Actual/Approx.) |
|---|---|---|
| Total revenue | RMB 4.2 billion | RMB 2.3 billion |
| R&D spend (% of revenue) | ~9% | ~10% |
| Automotive electronics revenue share | ~65% | ~66% |
| Market share in automotive electronics (Q2 2023) | 18% | |
| Target market share (end-2023) | 20% | |
- Domestic strength: Holds an 18% share of the automotive electronics segment as of Q2 2023, leveraging strong OEM relationships in China.
- Competitive landscape: Faces pressure from larger global Tier‑1 suppliers but competes on domestic integration capability, localized cost structures and faster time‑to‑market.
- R&D focus: Investing heavily in R&D (approximately 9-10% of revenue) to develop ADAS, energy‑efficient power electronics and greener solutions to meet stricter emissions and efficiency standards.
- Product expansion: Broadening offerings toward energy‑efficient and environmentally friendly modules (e.g., high-efficiency inverters, low-power telematics, recyclable materials).
- Growth strategy: Aiming to reach a 20% automotive electronics market share by end‑2023 through:
- Strategic partnerships with OEMs and semiconductor specialists
- Exports and selective global market entries
- Scaling software and service revenue for higher-margin recurring income
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