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In recent years, the market performance of new energy vehicles has been very eye-catching, especially in the first half of 2024, the sales of new energy vehicles have shown a hot trend. Models such as Haval H6, H9, Geely Binyue, Lynk & Co 06, Avita 12, and Xiaopeng P7 have extremely high popularity and popularity among consumers. These models have won the favor of consumers with their unique design style and excellent performance. And behind them, there is a common name-Longchuang Design.

Comprehensive strength creates leading performance

With China's successful entry into the WTO at the end of 2001, my country's automobile industry entered a golden period of rapid development. More and more Chinese designers and engineers began to bravely explore the path of China's independent automobile design. At that time, the founder Wang Xun, who was only 25 years old, decisively gave up his stable job at the Shanghai Aircraft Manufacturing Plant and established "Longchuang Automobile Design", determined to make Chinese design and Chinese manufacturing go international. This is one of the earliest automobile R&D teams in China, and also the earliest vehicle design company in China to embark on the journey of automobile design.

In 2004, Longchuang Design officially began to turn to vehicle design and development, and is committed to providing excellent vehicle design services for well-known domestic and foreign automobile brands such as Great Wall Motors, Geely Auto, BYD Auto, and Zotye Auto. With the rise of China's own brand cars in the 21st century, Longchuang Design has also ushered in rapid development. When cooperating with Chinese local automobile brands such as Great Wall and BYD, Longchuang Design has put a lot of thought into the appearance design and product cost performance, getting closer to the Chinese market, significantly reducing costs, and creating the first best-selling car for the car companies.

With the vigorous development of China's independent automobile brands, Longchuang Design has always worked hand in hand with automobile brands, witnessing and supporting the rapid growth of my country's independent brands. Longchuang Design has never stopped its pace of self-improvement and has gradually formed a unique design concept and style.

Focus on independent car design Accompanying the growth of independent brands

While Longchuang Design is developing rapidly, it is also facing severe challenges. In 2014, the downstream domestic new energy vehicle industry has shown a strong growth trend. For Longchuang Design, the expected growth in orders means that it needs to invest more massive funds. At this critical juncture, the company's 9 million yuan of matured credit business failed to obtain the renewal of the original lending bank, and Longchuang Design's financial pressure increased sharply. As an enterprise with light assets and high technology, it lacks collateral and often finds it difficult to obtain credit support from traditional financial institutions.

At this time, Hangzhou Bank is going all out to deepen its presence in the field of technology financial services, and has built a service system that covers the entire life cycle, connects all channels, and provides full-asset management strategies. For science and technology companies that are planning to go public, Hangzhou Bank provides tailored financial services based on the strict standards for information disclosure in the capital market by analyzing the company's operating data, financial status, and industry growth. In the process of contacting Longchuang Design, Hangzhou Bank learned about the company's current predicament. It provided Longchuang Design with a credit line of 15 million yuan in the form of order financing, and released the loan in a timely manner, solving the company's urgent needs.

After Longchuang successfully overcame its financial difficulties, the company's business conditions gradually improved. A series of popular models that attracted much attention continued to emerge, including the well-known Haval H9, which won the market's enthusiastic pursuit with its luxurious and practical characteristics; Geely Binyue, with its dynamic and fashionable appearance, became the new favorite of urban drivers; in addition, BYD Qin, with its green travel concept and advanced technology, demonstrated the infinite possibilities of new energy vehicles. The successive launch of these popular models has undoubtedly injected strong momentum into the long-term development of the company.

Walking side by side and shouldering the mission of national innovation

Longchuang Design's innovation from "0 to 1" is a long, arduous and lonely journey. During this process, Hangzhou Bank has always adhered to the concept of "holding on to the green mountains and not letting go", maintained strategic focus, and served as "patient capital" to accompany the growth of enterprises, providing long-term and stable financial support for Longchuang. This cooperative relationship based on trust and support has not only brought rich returns to both parties, but also set an example for the industry.

In 2015, as the sponsor bank for Longchuang Design's listing on the New Third Board, Hangzhou Bank successfully helped Longchuang Design emerge in the capital market with its professional financial services, and its market value reached 350 million yuan. In 2017, Longchuang Design once again embarked on a new journey - to launch an IPO. Faced with this challenge, Hangzhou Bank did not stop, but worked closely with Longchuang Design to face the challenges and opportunities of the market with professional financial services as support. Although Longchuang Design is a domestic enterprise, its development pace is not limited to the domestic market. Since 2019, Longchuang Design has actively expanded the international market and innovatively proposed a new model of "automobile vehicle R&D + supply chain" export, realizing the first successful case of new energy vehicle R&D and industrial chain integration export. Longchuang Design has completed the "turnkey" model design of two complete vehicles for Vietnam's VinFast Company. This is the first time that a Chinese company has provided complete vehicle R&D and automotive R&D services for the export of the entire industrial chain to Southeast Asian countries, which also provides development opportunities for the overseas expansion of China's new energy vehicle industry chain. Over the years, with the long-term support and cooperation of Hangzhou Bank, the market value of Longchuang Design has grown to RMB 2 billion. This is not only a strong proof of the results of the cooperation between the two parties, but also an affirmation of Longchuang Design's continuous innovation and internationalization strategy.

Creating a new export model for new energy vehicles to help automotive design "go global"

In recent years, Longchuang has not only conducted in-depth research in the field of vehicle design, but also expanded a number of emerging business models, including autonomous driving R&D and restructuring business, auto parts business, and unmanned vehicle development business. The development of these businesses has achieved remarkable results and promoted the steady growth of corporate revenue. At the same time, relying on past successful experience, Longchuang Design's supply chain "going overseas" strategy is also progressing steadily. At present, the company is gradually expanding into the Southeast Asian market, with automobile companies in Indonesia, Malaysia, Thailand, Vietnam and other countries as its main customers, and gradually entering the list of potential service providers for Japanese and Korean automobile companies. These rich overseas business resources have brought more opportunities to Longchuang Design and have become an important source of its operating income growth. In decades of continuous exploration, Longchuang Design has produced tens of thousands of concept design drawings. With its excellent quality and unique creativity, it has become one of the outstanding representatives in this field.

Looking into the future, Hangzhou Bank will continue to work side by side with Longchuang Design, continue to deepen its roots in the cutting-edge fields of the domestic automotive design industry, constantly scale new heights, and inject new vitality and momentum into China's automotive industry.