Recently, the 2024 APTIV Supplier Day successfully concluded in Shanghai. The theme of this conference is "IN CHINA, FOR CHINA". Hongfa, as a high-quality partner of APTIV, was invited to attend and gathered with more than 200 and 300 industry partner representatives. Hongfa won the APTIV "Outstanding Contribution Award" for its high-quality product delivery and excellent service.

At the summit, Guo Ye, Vice President of Hongfa Corporation, participated in a summit forum with the theme of "Localization of Industries and Going Global", and had in-depth exchanges with on-site guests on how to layout the "Entering" and "Going Global" strategies.

Going global has been Hongfa's long-term strategic goal and the path it has been practicing for 40 years. Over the past 40 years, with high-quality products and recognition from international customers, Hongfa's overseas business has continued to expand, laying a solid foundation for its international development in recent years.

APTIV has proposed to assist Chinese automobiles in "going global", and Hongfa also hopes to have more strategic cooperation with APTIV in global business layout to better achieve the strategic goal of "going global", further enhance Hongfa's supporting market share in North America, South America, Europe and other regional markets, and work together with industry partners to promote industrial development.

Mr. Guo talked about how Hongfa, as a global leader in relays, can achieve its second goal of $1377.06 million after its turnover exceeds $1377.06 million, which also drives us to continue accelerating our global strategy of expanding our industry overseas. At present, Hongfa has established a fully controllable production and manufacturing industry chain with Hongfa characteristics in its three major bases in China. On the basis of maintaining existing core competitiveness, we are also continuously accelerating the construction of overseas manufacturing bases.

In 2019, Hongfa established its first overseas manufacturing enterprise in Indonesia - Indonesia Hongfa. In 2023, Hongfa's German factory began construction and is expected to start small-scale production in early 2025. This will improve the response speed of Hongfa's technology, products, and services to the European market and expand its influence in the European market.

Mr. Guo stated that Hongfa adheres to the principle of "Focus on market, win by quality". Whether in the domestic or foreign markets, enterprises should prioritize quality and continuously improve their competitiveness in technology, manufacturing, products, services, and other aspects to meet market and customer needs. Hongfa will also deepen its global strategic cooperation with APTIV, further explore and develop new innovative business models together, and enhance the competitiveness of both parties in the automotive parts industry.

Finally, the host asked each guest to share their thoughts and experiences on the themes of "going out" and "coming in" for today's forum. Mr. Guo's statement "Not wanting to engage in the hustle and bustle at home, I step out and turn left or right" won warm applause from the audience. Then, Mr. Guo added, "If you can't make waves, you might as well roll up your bedding." emphasizing that in today's market, the word "roll up" is the top priority, and only innovation and development are the core driving forces for enterprises to move forward.

Subsequently, during the dinner party, Mr. Guo took the stage to receive the 2024 APTIV "Outstanding Contribution Award". This award demonstrates the recognition of the company's products, technology, and services, and fully reflects Hongfa's competitiveness and influence in the industry.

In the future, Hongfa will continue to be rooted in customer research and development scenarios, continuously carry out customized design iterations based on customer applications, work together with industry partners to promote innovation and upgrading of China's automotive industry chain with higher quality products and more efficient services.