Language ENG About Sanden Our Products Test Services Latest News Careers CSR Enquiries SANDEN shares agreement with Hisense Group 02/03/2021 in Press On March 1st, 2021, SANDEN Holdings Co., Ltd. signed a share underwriting agreement with Hisense Home Appliances Group Co., Ltd. SANDEN has issued new shares through a third-party allotment to a special purpose company to be established (hereinafter referred to as the “third-party allotment”). The total amount of new shares issued to the special purpose company is approximately 21.4 billion yen. The Hisense Group, headquartered in Qingdao, China, established in 1969 and is a global electronics manufacturer group that develops, manufactures, and sells various electronic information equipment and home appliances. In fiscal 2020, the Hisense Group’s sales were approximately 2,288.1 billion yen. As SANDEN, we have promoted the transformation of our business portfolio and concentrated all our management resources on the automobile equipment business. This has evolved into a company that provides solutions for Integrated Thermal Management, which is our strength for new energy vehicles (NEV), and as expected to grow rapidly to achieve a carbon-free society. Meanwhile, Hisense Group positions its entry into the in-vehicle electronics related business as one of its important strategies, which is based on the core technologies it has cultivated so far, such as air conditioning control, AI, IoT, and vehicle connectivity. Since SANDEN and the Hisense Group’s strategies match, we have decided to issue new shares to the Hisense Group as an optimal business alliance partner that can create a wide range of synergies. As a result, we will achieve faster growth than independent business development, further accelerate the strategic development of both companies, and strongly promote the improvement of corporate values. Together with the Hisense Group we can provide an integrated thermal management system with more advanced air conditioning control and control technology utilizing AI. In the short term, we can create synergistic effects through joint procurement of raw materials / electronic components and utilization of human resources. As a result, our system will be even more strengthened to meet the high QCD requirements of automobile manufacturers and further enhance our presence as a Tier 1 supplier. In the medium to long term, in addition to air conditioning products for electric vehicles such as heat pump system and electric compressor, we will continue development on Hisense Group’s smart transportation, smart cockpit and connected cars. This will be a major step in leading NEV’s transformation of thermal management technology and creating a world-leading company in the field of in-vehicle electronics. By executing this third-party allotment, we can break away from the severe global business conditions in which we have been placed. In order to revitalize our business, we have obtained the necessary funds for structural reforms and future growth investment funds. By having the creditors subject to the business revitalization ADR procedure agree to the business revitalization plan formulated by the Company, we will strive to establish a strong revenue base and drastically improve our financial position from now on. By combining SANDEN’s development talent with the Hisense Group’s cutting-edge technology, in the CASE era, we are confident that we can create greater value for our customers by firstly creating new changes ourselves. As a new SANDEN, we will contribute to the realization of a carbon-free society toward our future vision of creating the affluent society in which the environment and comfort are in harmony. Sanden International (Europe) GmbH Am Taubenbaum 35-37 Bad Nauheim, Germany, 61231 + 49 6032 8030 0 Company # HRB 113309 Business Summary Careers Enquiries BACK TO TOP © Sanden International (Europe) GmbH | Web designers - KD Web Privacy Policy Terms & Conditions Sitemap Modern Slavery Statement Cookies Policy Our website uses cookies. It helps us to provide you with a good experience when you browse our website and also allows us to improve our site. By continuing to browse this website, you are agreeing to our use of cookies. Accept & Close More Info