Ruiming Technology: The price increase of key materials such as chips has slowed down compared with 2021

On May 13, Ruiming Technology stated on the investor interaction platform that the current price increase of key materials such as chips has slowed down compared with 2021. The prices of some chips are still rising slightly, but the prices of some raw materials have also dropped slightly. The company will continue to pay close attention to the price trend of raw materials and ensure the normal production and operation activities by strengthening its partnership with suppliers.

It is reported that Ruiming Technology is a commercial vehicle safety and information technology solution provider with artificial intelligence and video technology as its core. It is committed to vigorously developing traffic safety and industry information products and solutions by using artificial intelligence, high-definition video and big data and other technical means. The company combines the safety operation needs of commercial vehicles and the development trend of technology, and focuses on a user-centric business strategy to continuously create industry products and solutions that meet the safety operation of various commercial vehicles and improve information management capabilities.

In addition, Ruiming Technology has always invested heavily in overseas freight, which is a new major direction for the company and has a relatively large demand. The company's overseas freight areas are mainly carried out in the United States, Europe, Africa and South America, and business expansion in Southeast Asia is also underway.

It is worth mentioning that the projects jointly developed by Ruiming Technology and Horizon Robotics include vehicle-mounted ADAS (advanced driver assistance system), which has now entered the mass production stage and has been delivered to some car manufacturers; the cooperative AEB product (automatic emergency braking system) has begun implementation verification with some customers and is expected to enter the mass production stage around Q3 this year.

Ruiming Technology stated that the domestic and international economic environment under the influence of the epidemic is still not optimistic. Although the domestic COVID-19 epidemic has been effectively controlled, anti-epidemic efforts are still ongoing in various places, which has a great impact on the economy; the COVID-19 epidemic is still continuing in some overseas countries and regions, and the overseas economy under the Russia-Ukraine conflict is also worrying; the United States' suppression of Chinese technology companies is still continuing, and the global economic environment and market environment have had negative impacts to varying degrees, and economic uncertainties have been increasing.

Regarding the outlook for operating performance in Q2 and the second half of the year, Ruiming Technology pointed out that judging from the macroeconomic situation, domestic and foreign economic conditions and the overall development of the industry in which the company is located, the company's business has considerable room for future growth.