Bozhon Precision Machinery Won Two Technical Awards in the Chinese Charging and Swapping Industry in 2022

On September 27-28, 2022, the 8th China International Electric Vehicle Charging and Swapping Industry Conference was held in Changzhou, Jiangsu. Bozhon Precision Machinery was awarded two major prizes for its forward-looking technology research and development layout and application scenarios in the charging and swapping industry: the Top Ten Technological Innovation Award in China's Charging and Swapping Industry for 2022, and the Top Ten Battery Swapping Technology Award in China for 2022.

As a technology-driven company, Bozhon Precision Machinery has spared no expense in investing in research and development over the years. In 2021, the company invested 462 million yuan in R&D, which accounted for 12.07% of its operating income. In the first half of this year, the company invested 250 million yuan in R&D, which accounted for 17.45% of its operating income. Recently, the Jiangsu Provincial Federation of Industry and Commerce and the Provincial Academy of Science and Technology Development Strategy jointly released the "2022 Top 100 Innovative Private Enterprises in Jiangsu," with Bozhon Precision Machinery (688097) ranking fourth in Suzhou and tenth in the province. It is understood that the top 100 innovative enterprises had an R&D investment ratio of 3.7% in 2021, while Bozhon Precision Machinery significantly exceeded this level.

Based on the continuous investment in research and development funds, as of June 30, 2022, Bozhon Precision Machinery has obtained 2,140 patents, including 981 invention patents. With a substantial technological reserve, the company has gradually established a technological advantage in its products and built a good reputation in the industry. The company now has a high-quality R&D team in hardware, software, and mechanical engineering, with a total of 1,808 technical and R&D staff, accounting for 33.10% of the total number of employees.

Previously, Bozhon Precision Machinery's business development primarily revolved around the automation and digital equipment fields, mainly serving the global consumer electronics giants' supply chains. After years of continuous cultivation, the company has formed a strong technological advantage in the underlying technologies of industrial automation and digitalization. Over the past few years, the company has also been committed to actively applying its technological research and development advantages to more fields.

Taking the technological innovation of miniaturization of charging and swapping stations and the agility of battery swapping as an example:

In the context where the severe shortage of charging piles has become a major obstacle to the promotion of new energy vehicles, the Ministry of Industry and Information Technology initiated a nationwide promotion of the charging and swapping model. However, new problems have emerged. Due to the large area of previous swapping stations, which required high standards for site selection, making it difficult to find suitable locations and resulting in high costs for establishing stations. Bozhon Precision Machinery, through precise data calculations and on-site planning, has continuously iterated its technology over five years, achieving "small and easy" charging and swapping stations with the technological innovation of "modular and flat layout of various motion components." This innovation has reduced the space required from about 120 square meters to less than 40 square meters. The technology has now been upgraded to the sixth generation.

The previous generation of battery swapping stations (12.86m (length) * 9.84m (width) * 3.5m (height))

The new generation of battery swapping stations (11m (length) * 3.5m (width) * 3.5m (height))

Secondly, the previous method of battery swapping involved lifting the tires, which could lead to uneven heights of the lifting platform on the left and right sides when rising. During the matching of the battery pack and the vehicle, the locking mechanism on one side would make contact before the other, causing scraping or even lifting the vehicle. Especially since the battery itself is very heavy, removing the battery would also lead to changes in the vehicle's tilt and wobble. Bozhon Precision Machinery has innovated with the "embedded vehicle lifting mechanism" technology, integrating it seamlessly with the casing, thereby making the battery swapping process smooth, unobstructed, and precisely controllable.

Through a series of technological innovations like the ones mentioned above, the overall achievement of making charging and swapping stations "small and smart" has been realized, better facilitating the promotion of new energy vehicles and the achievement of national carbon neutrality goals.

In recent years, the new energy vehicle industry has experienced rapid development, with a swift release of demand for lithium battery equipment and battery swapping station equipment. For instance, the battery swapping model offers advantages such as fast energy replenishment, low initial purchase cost, and high battery utilization rate. Bozhon Precision Machinery, leveraging its years of rich experience in automation and digital equipment, took the lead in entering the battery swapping station field. It also provided NIO, which proposed the battery swapping model, with fully automated battery swapping stations, thus gaining a first-mover advantage in the field. These forward-looking arrangements are continuously bringing a steady stream of orders to the company. Following the consumer electronics field, Bozhon Precision Machinery plans to continue investing resources to vigorously develop the new energy sector, striving to create another growth pole for its main business.