Intron Technology : Heads Series A Funding in Greenstone Software Technology Strategic Investment to Develop Domestic Software Platform for Intelligent Driving

Intron Technology Heads Series A Funding in Greenstone Software Technology
Strategic Investment to Develop Domestic Software Platform for Intelligent Driving 2021.09.15

(Hong Kong, 15 September 2021) - Intron Technology Holdings Limited ('Intron Technology' or the 'Group'; HKEx: 1760), a fast-growing automotive electronics solutions provider in China, recently announced a strategic investment in Beijing Greenstone Software Technology Co., Ltd. ('Greenstone' or 'Greenstone Software'). The Group led the Series A funding in Greenstone, which totaled several tens of millions of RMB, and the two companies have agreed to engage in in-depth strategic cooperation. The cooperation will be specifically focusing on developing intelligent driving software platform. Based on the technological foundation that Intron Technology has established over the years, the two companies will jointly facilitate the implementation and evolution of intelligent driving solutions.

In the era of software-defined vehicles, automobiles are gradually transforming from highly integrated mechanical terminals into intelligent, scalable, and iteratively upgraded mobile electronic terminals. Meanwhile, the functional requirements of intelligent vehicles and connected vehicles have continuously driven the transformation of the vehicle electronic architecture from a distributed to centralized configuration. The abilities of software construction and development have become the key factors in defining the competitiveness of automotive makers, in addition to providing hardware with high levels of safety and control. Greenstone has been focusing on the R&D and innovation of domestic, independent and controllable basic software platforms. It has developed the 'Yuyan (雨燕)' communication middleware, which provides data-centric and real-time communication, as well as the 'Lanjing (藍鯨)' operating system for intelligent driving.

By introducing Greenstone as a strategic partner, Intron will help Greenstone to accelerate its technology and talent investment in the field of intelligent driving. At the same time, the partnership has demonstrated Intron Technology's determination to continuously develop its own strengths, while also further reinforcing its market leadership. The two companies will share advantageous resources, industry experience and technical know-how to accelerate mass production and the integration of Intron's hardware system and 'Yuyan (雨燕)' communication middleware in the field of intelligent driving. Through this cooperation, the two companies will also integrate a series of key modules to jointly promote the R&D of the 'Lanjing (蓝鲸)' operating system, and ultimately build a more comprehensive intelligent driving solution.

Leveraging its strong technological expertise and unique platform advantages, Intron Technology will focus its efforts on developing the area of automated driving, accelerating the strategic deployment of software and enhancing its software development capability, which allows the Group to take the initiative amid the new wave of transformation within the automotive industry. The Group will also provide higher quality customized mass production solutions and full lifecycle development services supported by software iterations and upgrades, with the aim to continuously foster quality development of the industry.

Mr. Luk Wing Ming, Chairman, Co-CEO and Executive Director of Intron Technology, said: 'Intron's strong technical expertise and industry experience in the automotive electronics industry has received widespread recognition from customers and partners. On the other hand, Greenstone's strength has focused on the R&D of fundamental automated driving software. The automated driving industry currently shows strong demand for software and hardware integrated solutions capable for mass production. We therefore believe joining forces to combine strengths will enable us to provide comprehensive and leading automated driving solutions to customers through hardware and software platforms, and will accelerate the commercialization of technological innovation of smart vehicle and automated driving in China.'

Mr. Zhong Shaochen, Co-Founder and CEO of Greenstone, said: 'Intron Technology is a market-leading provider of automotive electronic solutions and we are very honored to have gained its recognition and support. Fundamental software is one of the core technologies required for the development of automated driving. Greenstone will build an independent and controllable automated driving operating system and a comprehensive fundamental software platform based on the 'Yuyan (雨燕)' communication middleware. The strong support from Intron Technology will help expedite the mass production of related technologies and products, meet customers' demand for real-time and reliable data communication in multiple scenarios and lay a solid foundation for the future development of Greenstone's automated driving operating systems and fundamental software platform.'

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About Intron Technology Holdings Limited (英恒科技控股有限公司)
Intron Technology Holdings Limited is a fast-growing automotive electronics solutions provider in China focuses on providing solutions targeting critical automotive electronic components applied in New Energy, Automated Driving, Connectivity, Body Control, Safety and Powertrain systems. The Group utilises its research and development and engineering capabilities to provide solutions incorporating advanced semiconductor devices to help OEMs achieve industry leading performance.

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