Zhuzhou CRRC Times Electric visited Future Electronics to discuss further cooperation

Shanghai, China – March 16, 2022 – Recently, Yi Weihua, deputy general manager of Zhuzhou CRRC Times Electric Co., Ltd. (hereinafter referred to as CRRC Times Electric), and his delegation visited Future Electronics Shanghai Office. The two sides had in-depth exchanges on the recent supply situation of the component market and the possibility of further cooperation in CRRC Times Electric's new breakthrough industry.

Mr. Yi said: "I would like to thank Future Electronics for its efforts in ensuring our supply chain during the shortage of components in the market last year. Thank you for your hard work. I would like to take this opportunity to express my hope that both parties can continue to strengthen communication and cooperation in 2022 on the basis of our good cooperation and achieve win-win results together."

Raymond Huang, Vice President of Sales for China at Future Electronics, welcomed the visit of CRRC Times Electric on behalf of the company.

Afterwards, Kelvin Ng, Senior Director of Product Marketing at Future Electronics China, gave a brief introduction to the overall supply situation in the component market this year.

Kelvin pointed out: "Looking at the whole year of 2022, the supply of the overall chip market is still relatively tight. This will not be alleviated until the wafer fabs under construction are completed after 2023. Therefore, we also see that the prices of some semiconductors and logic devices are still in the process of continuous increase, and it is expected that this situation will be corrected in the second half of this year. Of course, for the automotive market, the shortage and incompleteness are still serious, and everyone needs to make more preparations in advance."

In the subsequent session, the two sides also exchanged views on the development blueprint of CRRC Times Electric's new breakthrough industry.

Danny Chen, Senior Director of Market and Business Development of Future Electronics China, said that CRRC Times Electric has formed a relatively complete industrial chain structure of "basic components + devices and systems + complete machines and engineering" based on its long-term efforts in the field of electrification equipment in China, thus having obvious development advantages in a number of new breakthrough industries. Industries such as industry, new energy vehicles and "green energy" are also areas where Future Electronics has been deeply involved for a long time and has core advantages. The two sides have a high degree of fit in these markets and can continue to deepen cooperation.

"Unlike other distribution companies, Future Electronics also has core technology development capabilities in these markets," added Richard Li, technical director of Future Electronics (Shanghai) Co., Ltd. "We can provide customers with all-round support from R&D and verification on the early technical end to stocking and supply guarantee on the later supply end. For example, in the design of the EV Inverter system, a core component of new energy vehicles, Future Electronics can provide electric vehicle controller solutions based on single-sided water cooling, double-sided water cooling, silicon carbide, etc., to help customers complete product design and delivery in a short period of time."

It is reported that during this meeting, Future Electronics also communicated on the proposal to establish a joint laboratory with CRRC Times Electric and NXP, and invited experts from the automotive electronics field of Onsemi to have in-depth exchanges on the supply situation, technological evolution and other information of its related products. While building a good communication platform for the three parties, they also explored the possibility of further close cooperation and win-win collaboration.

Future Electronics is a global electronic components distributor that provides customers with global supply chain solutions, customized engineering design services and a wide range of electronic components products. It is well-known in the industry. Founded by Mr. Robert Miller in 1968, Future Electronics has 170 offices in 44 countries and regions around the world and regards its 5,500 employees as the company's most important assets. As a globally integrated company, Future Electronics relies on a global integrated information platform to enable customers to check inventory status and supply and demand dynamics in real time. With a high level of service, advanced engineering design capabilities and a large number of salable inventory, Future Electronics has always adhered to the concept of Customer Achievement®. For more information, please visit www.FutureElectronics.cn .

Zhuzhou CRRC Times Electric Co., Ltd. (CRRC Times Electric for short) is a joint-stock enterprise under CRRC Corporation Limited. Its predecessor and parent company, CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd., was founded in 1959. CRRC Times Electric has taken root in Zhuzhou, walked on two rails, and walked out of two rails. It was successfully listed on the Hong Kong Stock Exchange in 2006, won the second "China Quality Award" in 2015, and its operating income exceeded 16 billion yuan in 2020.

CRRC Times Electric adheres to the "double high and double effect" high-speed traction management model, adheres to the "concentric diversification" development strategy, and forms a complete industrial chain structure of "basic components + devices and systems + complete machines and engineering" around technology and market. The industry involves high-speed rail, locomotives, urban rail, rail engineering machinery, communication signals, high-power semiconductors, sensors, marine engineering equipment, new energy vehicles, environmental protection, general inverters and other fields. Its business covers more than 20 countries and regions around the world. It has established good cooperative relations with many well-known companies at home and abroad and has broad development space and prospects.