On February 28, 2024, Flyking Technology’s Asian Franchise Lines Division — Kaimeirui, and Electrical Solution Division — Grand Vision, relocated to a new office together. The new address is below:

Room 606-1, Building T3, Phase I, Hongqiao Wanchuang Center, Lane 500, Xinlong Road, Qibao Town, Minhang District, Shanghai.

This signifies the company's transition to a more robust development path, with a brighter future ahead. Accompanied by cheerful and festive music, the leaders of Flyking Technology cut the red ribbon together, symbolizing the joint office of the two major divisions will unleash even greater power.

The relocation ceremony commenced with speeches from various senior leaders of Flyking Technology, celebrating the establishment of the new office and inspiring confidence in its development.

Kaimeirui——Asian Franchise Alternative Solutions

Looking across the global semiconductor industry market, there is a severe shortage of popular products, and the supply chains of major manufacturers fail to form a closed loop. This has led to unstable lead times and significant price fluctuations for some products of leading semiconductor manufacturers.  

Nowadays, Asian semiconductor manufacturing brands have emerged strongly, with many products capable of replacing those of international leading semiconductor manufacturers constantly appearing. This is why we established Kaimeirui Asian Franchise Lines Division, to help customers solve these challenges. So far, Kaimeirui represents over 30 renowned Asian semiconductor brands, offering a wide range of products including sensors, MOS transistors, diodes, SIC diodes, LDOs, DC-DC converters, power modules, resistors, capacitors, oscillators, covering solutions for consumer electronics, industrial electronics, automotive electronics, security surveillance, IoT, high-end power supplies, and more. We are here to meet customers' diverse procurement needs.

We prioritize quality while also caring deeply about our customers' needs. Leveraging manufacturers' technical support, we provide cost-effective product solutions to our customers, assisting them in shortening product development cycles and expediting product delivery processes through efficient logistics and comprehensive after-sales support.

Grand Vision——Power and Electrical Solution Provider

Flyking Technology's Power and Electrical Solution Division, Grand Vision, is a cold-press terminal service provider that integrates solution development, production, and sales. After years of relentless pursuit, we have established a sound customized service process and have obtained industry certificates such as ISO9001 quality system certification, American UL certification, and EU RoHS/REACH environmental certification.

Grand Vision's products include connectors, terminal blocks, relays, contactors, circuit breakers, power capacitors, magnetic cores, ferrite rings, transformers, inductors, reactors, and switches, which can be widely applied in new energy, electric vehicles, rail transportation, and industrial control. Additionally, Grand Vision has been authorized by many well-known manufacturers internationally, providing customers with professional and efficient electrical service solutions.

Starting from understanding and analyzing customer needs, providing technical specifications for different product categories, and proceeding with design confirmation and sample testing. Each step that Grand Vision do is supported by an experienced technical team, all aimed at providing customers with superior solutions.

From an independent distributor to an agent, and now to a power and electrical solution provider, Flyking's visionary strategic layout has built the company's competitive barriers and solidified each step toward internationalization. The step of the joint office is both a testament to customers' trust and support for Flyking and a commitment and assurance from Flyking to its customers.

Overview of the Automotive Semiconductor Industry

January 2024 has concluded with a 69% year-over-year increase in global electric vehicle (EV) sales, reaching 1.1 million units, albeit experiencing a 26% decline compared to December. Reductions in subsidies in Germany and France, coupled with seasonal softness in Chinese sales, were primary factors. Sales in Germany and France decreased by approximately 50% compared to December, yet the anticipated 2025 EU emission standards are expected to stimulate supply for pure EVs and hybrid models.

Sales revenues in the U.S. and Canada surged by 41%, nearly doubling in China, and increased by 29% in the EU, European Free Trade Association, and the UK. However, sales declined by 26% before the Chinese Lunar New Year, 32% in Europe, and 14% in the U.S. and Canada compared to December. General Motors' introduction of plug-in hybrid electric vehicles in the North American market marks a strategic reversal in bypassing hybrid systems. Despite consumer hesitancy due to high EV prices and challenges in charging infrastructure, hybrid vehicle sales continue to rise in the United States.

Updates from Automotive Semiconductor Manufacturers

Renesas is set to acquire Transphorm, a designer and manufacturer of gallium nitride (GaN) power devices, for approximately $339 million. GaN, a wide-bandgap technology, finds application in high-voltage applications across various markets, including EVs and fast EV chargers, as well as data centers and industrial applications.

Intel announced its acquisition of Silicon Mobility SAS to integrate artificial intelligence (AI) efficiency into electric vehicle (EV) energy management. The company also stated that the new AI-enhanced software-defined vehicle SoC would enable onboard AI and camera-based driver/passenger monitoring. Additionally, the company plans to offer an open automotive chip platform for customers to integrate their own chips into Intel's automotive products.

Infineon and Aurora Labs introduced an AI-based solution to enhance the reliability and safety of critical automotive components, including steering, braking, and airbags.

NXP expanded its automotive radar single-chip series, integrating high-performance radar transceivers, multicore radar processors, and MACsec hardware engines for secure data communication via automotive Ethernet.

Texas Instruments launched the industry's first single-chip radar sensor designed for satellite architecture, enabling more precise Advanced Driver Assistance Systems (ADAS) decisions and supporting new driver chip systems for battery management or power flow control in other power systems.

Qualcomm and Bosch unveiled a central in-vehicle computer capable of running both infotainment and ADAS functions on a single SoC.

Developments in Automotive Manufacturers

Tesla: Since 2024, Tesla's stock price has seen a significant decline, dropping by 24.6% in January and continuing to fall, currently down by 55.5% from its 2021 peak. Despite a 20% year-over-year increase in fourth-quarter sales, revenue growth was only 3%. To sustain sales momentum, Tesla significantly reduced prices throughout the year and offered discounts. Automotive gross margins plummeted from 30% in Q4 2021 to below 20%. In early 2024, Tesla continued price reductions in China and Europe, with analysts identifying automotive gross margins as a critical revenue concern.

BYD: Influenced by seasonal factors, BYD witnessed a month-over-month sales decline in January but grew by 33.14% year-over-year. Despite a 40.92% decrease in Chinese market sales, BYD achieved a historic high in overseas sales, reaching 36,174 units, a 247.53% year-over-year increase. Since March 2022, BYD has been focusing on producing plug-in hybrid and pure EVs.

BMW: In January, BMW announced its integration of Amazon's Alexa technology into the language assistant of some of its vehicles, starting this year. At CES 2024, BMW and Amazon showcased a voice assistant product based on the Alexa AI model, capable of advanced language processing and generating complex responses. Additionally, BMW stated that starting in 2027, its Munich plant would exclusively produce electric vehicles.

Hyundai: At CES 2024, Hyundai presented the theme "Ease every way," emphasizing human-centric life innovations through advancements in hydrogen energy, software, and AI. Hyundai's HTWO brand will transition into a hydrogen value chain business brand, integrating various industry segments such as hydrogen production, storage, transportation, and utilization. Furthermore, Hyundai introduced the "Software-Defined Everything (SDx)" strategy to accelerate software-centric intelligent mobility development.

Kia: At CES 2024, Kia unveiled its platform "Beyond Mobility," surpassing traditional automotive business, based on the all-new modular vehicle Concept PV5. The strategy aims to revolutionize the mobility industry through its PBV business and support the Hyundai Motor Group's goals in robotics, Advanced Air Mobility (AAM), and autonomous driving technology.

Honda: Honda globally premiered the "Honda 0 Series" electric concept car at CES 2024, previewing a new EV series set to launch in 2026, including Saloon and Space-Hub concept models and a new H logo. Honda aims for carbon neutrality by 2050, planning for electric and fuel cell vehicle sales to reach 100% by 2040.

Forecast for the Automotive Semiconductor Market

The automotive semiconductor industry is projected to grow from $436.629 billion in 2022 to $857.278 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 8.6% (2022-2030).

The trends towards automotive intelligence and electrification will drive semiconductor market growth, with ADAS and infotainment being major drivers. By 2027, ADAS is expected to account for 30% of the automotive semiconductor market, with a growth rate of 19.8%; infotainment will represent 20%, with a growth rate of 14.6%. This indicates a long-term stable growth in chip demand for automotive electronics.

As the Lucky Dragon Dances into Spring, our brand-new journey has begun. On the ninth day of the first lunar month, Flyking Technology kicks off with vigor!

New Year New Start

On the first day back to work after the Chinese New Year holiday, the joy and excitement of the Spring Festival spread still. Every corner of our offices is filled with a festive atmosphere, with our Chinese knots conveying hopes and aspirations for the new year.

“Happy New Year & Gong Xi Fa Cai”, we bless each other with happiness and peace, we get our lucky money from various red envelopes.

Today's most anticipated event is undoubtedly receiving the red envelopes, symbolizing a prosperous start to the new year for Flyking Technology and conveying our company's best wishes to all employees.

Flyking’s Chairman, Fred, and CEO, Norman send their New Year blessings and best wishes for the start of work.

New Year Kick-off Gathering

In addition to the red envelopes for the New Year, we also organized a lively and thoughtful Kick-off Gathering activity, which is full of fun and surprises. We get together to welcome the first day of work in the new year with a fresh outlook!

During the party, the gaming session was filled with excitement, featuring a thrilling game of "Rolling Fortune" and a music-themed challenge called "Lyric Library." There was also the joyful game of "Fortune Shovel," where we blindfolded ourselves and dug with all of our luck.

The entire gathering was lively and extraordinary, with colleagues enjoying themselves and embracing the new year with full vitality, kicking off a new journey with enthusiasm!

Let’s focus on the journey of the Loong Year. Flyking Technology will continue to uphold every ounce of trust, respond to expectations with quality, fulfill our mission with service, and forge ahead with full vigor amidst the tide of electronic components.

We would like to inform you about the holiday arrangements for the upcoming Chinese Spring Festival in 2024.

During this holiday period, please note that our offices will be closed, and regular business operations will be temporarily suspended.

We wish you all a joyful and relaxing holiday. Please arrange your work in advance and thank you for your understanding.

Below are the holiday close times and return to work times of Flyking offices. Please check.

As we delve into a new year filled with aspirations and possibilities, Flyking Technology proudly reflects on the resounding success and memorable moments of our 2024 Annual celebration. With the invigorating theme of "Beyond Boundaries, Advancing Beyond," our celebration held on January 13th in Jiangmen was a testament to our collective achievements and a testament to our unwavering commitment to excellence.

This year's annual celebration blended traditional Chinese culture. The setting and venue arrangement promise surprises and anticipation for everyone. Through captivating award ceremonies, New Year's blessings, performances, recreational activities, and social responsibility initiatives, we comprehensively review the company's journey of dedication over the past year. Simultaneously, we eagerly embrace the challenges of 2024 with full enthusiasm

Commendable Milestones

Expanding our global footprint, we proudly established ten new offices worldwide, reinforcing our commitment to offering exceptional services and accessibility to our customers. These strategic expansions included new offices in the Netherlands, South Korea, and Singapore, complementing our existing presence in China, Germany, and the United States.

“In 2023, the semiconductor industry faced tough challenges due to poor market conditions, weak demand, and ongoing destocking in the supply chain.  However, entering 2024, there are signs of recovery, making it a potentially transformative year. Despite the challenges, we remain committed to the philosophy of "service first, customer foremost." Throughout 2024, we aim to provide more efficient and professional value services to our customers in areas like supply chain services, quality control, delivery, and market insights. Let's journey together towards a brighter future in 2024.”

The speech delivered by our CEO stands as the ultimate guide for all Flyking colleagues, inspiring ceaseless dedication and unwavering progress.

Outstanding Flyking Family Members

The year 2023 was a significant chapter in our journey marked by remarkable milestones and achievements. In the face of market challenges, we have withstood the pressure and improved both the quality and breadth of our company's services. And all this effort could not be done without our employees. We awrded them and present them with recognition at the annual celebration.

Outstanding employees are the most valuable asset of the company, serving as the backbone behind the company's achievements. Their capabilities and talents showcased at work are indispensable resources for the company. Especially for those colleagues at Flyking Technology who have dedicated over five years, we extend to them our utmost respect.

Let us collectively wish these outstanding employees further success, as we join hands to script a more brilliant and prosperous chapter in the upcoming year!

Social Responsibility and Community Engagement

In tandem with our professional endeavors, Flyking Technology remains steadfast in our commitment to social responsibility. Strengthening our support for public welfare, we extended aid to various causes, including the donation to Naba Primary School in Guangxi. Such as providing living essentials, educational materials, and scholarships to local underprivileged students.

We also donated 50 thousand Yuan to Fill the World With Love Foundation in our 2024 Annual Celebration. This steadfast commitment reflects our belief in giving back and fostering a positive impact beyond business realms.

Garden Party and Live show

Celebrating the New Year with a colorful Garden Party, we welcome the new year with joyous laughter. One of the highlights of this annual celebration is the Garden Party, featuring eight gaming zones such as sandbag tossing, treasure-grabbing battles, lantern riddles, joyous ring-toss, quick eyes and hands, happy soccer, electric maze, and amusing bowling. Each activity is filled with fun and challenges, offering participants the opportunity to collect stamps and exchange them for prizes.

Moreover, the passionate band performance ignited the atmosphere at the venue, spanning from rock music to pleasing pop tunes. We were immersed in the music, and the combination of live KTV further added a touch of enthusiasm to the celebration. It was a moment to relax, and showcase talents, and colleagues danced to the rhythm of the music, gradually spreading a joyful ambiance.

Moving Forward in 2024

The Annual celebration served as a beacon of inspiration, fostering camaraderie, and setting the tone for a purposeful year ahead. Guided by our core values of Integrity, Accountability, Innovation, and Inclusion, Flyking Technology remains resolute in delivering unparalleled services and contributing positively to society.

As we step into the future, we carry with us the invaluable experiences and successes of the past. Our collective efforts and dedication to growth have paved the way for an exciting journey ahead, filled with innovation, resilience, and a commitment to excellence.

Stay tuned for more updates and announcements as we embark on another transformative year at Flyking Technology!