On May 17, 2024, Zhejiang Jinmet Group Co., LTD. (hereinafter referred to as "Jinmet") officially announced the completion of over 400 million yuan of B round financing, led by Yuan Jing Capital, followed by Changxing Economic Development and other investment, and a large proportion of additional investment by old shareholders Oriental Jia Fu and Haibang Investment. The funds raised by Jinmet this round will be mainly used for going to sea strategy, technological innovation, team expansion, main business expansion and the acquisition of high-quality targets at home and abroad.

Founded in 2017, Jinmet is a global intelligent manufacturing overall solution and digital intelligent equipment provider. At present, its business scope mainly covers the fields of wire chassis, tri-electric system, electronic components (ADAS, safety systems, sensors, etc.), body in white welding, thermal management and hydrogen energy power. In recent years, the business of Jinmet has developed rapidly, and the amount of new orders signed this year has doubled significantly compared with the same period last year, the production of new factories, the breakthrough of high-quality customers, the continuous expansion of talent teams, and the comprehensive promotion of the sea strategy, and the company is currently in a new stage of leapfrog development.

Jinmet has three R & D and test centers in Shanghai, Suzhou and Wuhu, three production bases in Huzhou, Lianyungang and Suzhou, and overseas subsidiaries in Germany and Mexico, with more than half of its core technical team and more than 30% of overseas production line orders.

Jinmet has carried the advanced research and development experience and technical accumulation in the automation industry, and deeply cultivates the automation underlying technology fields such as motion control, machine vision, core algorithm and detection, and has accumulated profound accumulation in the core processes such as gluing, welding, assembly and detection, and has obvious technical advantages. The company has an independent core digital asset library, and is currently making efforts on AI construction to comprehensively promote AI empowered design, production, processing and manufacturing, and after-sales. At the same time, Jinmet has a strong self-sufficiency of parts, combined with years of accumulation of standardized design and process module library, which can greatly compress the production cycle and achieve agile delivery beyond the industry.

Since its establishment, Jinmet has always been the highest standard of the industry, and its products have passed a series of rigorous tests, successfully entering the supplier list of international well-known auto parts giants such as Mainland, Continental Latipa, Hella, Honeywell, Schaefler, Thyssenkrupp, and continue to expand overseas channels, and accelerate the international layout. In China, Jinmet has become the absolute leader in the field of intelligent manufacturing of wire controlled chassis, helping Bethel to achieve the landing of the first domestic wire controlled movable line, helping Topu Group to achieve the landing of the first domestic wire controlled suspension production line, At present, it has basically achieved the full coverage of domestic wire control chassis including Bethel, Topu Group, Paolong Technology, Geely Yao Ning, Beijing West Heavy Industry, Nansen, Glubo, Kesheng Power, Bibost, Jiefeng, Shanghai Shi Driving and other star enterprises. In addition, in the field of body-in-white welding, the company is a first-class supplier of a world-renowned new energy vehicle brand, BYD, Chery, Dongfeng, Geely and other Ovens; In the field of large and small power, the company has established good cooperative relations with well-known customers such as Marquardt, Garrett, Derun Electronics, Minth Group and Weimess. In other areas such as thermal management and passive safety, the company works closely with well-known customers such as Sanhua Intelligent Control, Jiewen China, Lisheng, and Elxi. Jinmet is working with upstream and downstream strategic partners to build an industrial ecosystem, constantly innovating and iterating various intelligent manufacturing solutions, and comprehensively helping downstream customers transform and upgrade intelligent manufacturing.

In the current capital market winter can complete more than 400 million yuan of large B round financing, reflecting the domestic investment institutions of Jinmet's own strength and future development prospects are highly recognized. With the help of many parties, Jinmeet will further adapt to and seize the east wind of electrification and intelligence in China and the world, seize the historical opportunity to move towards high-level autonomous driving, firmly focus on the corporate strategy of "core components homemade, product business specialization, equipment delivery globalization, solution digitalization, and intelligent field diversification", and build its own brand moat. Deepen deep collaboration with strategic partners for mutual benefit and win-win results, jointly define a new generation of intelligent travel tools, and build a future-oriented intelligent automobile industry chain innovation ecology.

Jiang Fan, chairman of Jinmeet, said: "Jinmeet is a head provider of overall intelligent manufacturing solutions focusing on the new energy automobile industry, with core self-control, digital capabilities and global competitiveness. In the future, we will continue to play a technical advantage in the fields of motion control, core algorithms, self-detection and digitalization, and continue to improve the self-sufficiency rate of core modules; At present, Jinmet has established good cooperative relations with many automobile and auto parts leading enterprises, and we will further deepen the binding with these enterprises in the future, relying on their forward-looking strategic layout, so as to always focus on the most cutting-edge and cutting-edge technology fields of the industry; Jinmet will continue to strengthen the capacity of production line digital empowerment, comprehensively promote the construction of core digital asset library and AI construction, and use AI to better empower the company's design, production, processing and manufacturing and after-sales. At the same time, comply with the global wave of electrification and intelligence, firmly promote the strategy of going to sea, and realize the delivery of production lines for the world; In the future, with the continuous improvement of the company's business model and management system, the company will gradually develop diversified businesses such as industrial, medical and consumer, with the goal of becoming the world's leading provider of intelligent manufacturing solutions in multiple fields."

Liu Yiran, managing partner of Yuan Jing Capital, said: "Yuan Jing Capital has deeply cultivated the new energy and intelligent automobile industry chain, and invested in a portfolio of new power Oems including Ideal Automobile, as well as upstream and downstream supply chain enterprises such as commercial vehicles, autonomous driving, Tier1 core components. As a new domestic force in the manufacture of new energy vehicle equipment, Jinmet has a deep layout in the field of online control chassis, and its customers cover foreign and domestic customers in the direction of control motion/steering/suspension, and at the same time, it has rich capabilities and successful cases in the direction of tri-electric system and sensor control system. After extensive research, we fully recognize the professional competence and rich experience of Kimmet's management team, and we are honored to participate in and lead Kimmet's Series B investment. We believe that Yuan Jing's layout in the automotive industry chain will bring more industrial synergies to Kimmet, and also help Kimmet's internationalization strategy to become a leading international first-tier manufacturer."