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Qingdao Sifang SRI Intellectual Technology Co., Ltd.

Qingdao Sifang SRI Intellectual Technology Co., Ltd. (hereinafter referred to as “SRI Intellectual”) was founded in Qingdao on January 22, 2018, an intelligent technology company jointly established by CRRC Qingdao Sifang Rolling Stock Research Institute Co., Ltd. (hereinafter referred to as "CRRC SRI")- the first-tier subsidiary of CRRC Corporation Limited and CRRC Guohua(Qingdao)Equity Investment Partnership (hereinafter referred to as " CRRC Guohua ").

SRI Intellectual wholly acquired Finland Beneq Oy (hereinafter referred to as "Beneq") on September 28, 2018. Beneq was established in 2005 with its headquarter in Espoo, Finland and 142 employees. It has a sales company in the United States and mainly involving the business scope of atomic layer deposition (ALD) equipment, atomic layer deposition (ALD) coating services and thin film electroluminescent (EL) displays.

(1) ALD coating technology has exhibited its advantages in many aspects such as thickness control of the deposited layer, surface uniformity of special-shaped materials and pinhole-free surface. It can be applied to integrated circuit manufacturing, photo voltaic cell coating, OLED display encapsulation as well as military defense and medical industry. Currently, its main products include spatial and roll-to-roll coating equipment for research usage or small & large scale system, flexible substrate and industrial production, with global research and academic institutes as its primary clients.

(2) Thin film EL display is ALD technology applied to displays. Beneq is only company in the world that can produce transparent displays with a transparency of more than 80%. Its main products include transparent display and the traditional rugged display, which both can operate within a wide temperature range and with high ability of shock & vibration resistance, while maintaining its display stability and a long life cycle. They are introduced mainly to particular areas like military defense, rail transit and aerospace industries etc.

SRI Intellectual, on the one hand, is able to integrate Beneq’s more than 30 years mature application of ALD coating technology and the domestic industrialization advantages through this acquisition, focusing on the application fields of industrial coating in emerging industries such as semiconductor, non-semiconductor and optical coating applications, and commit to provide customers with mature & advanced ALD coating solutions and speed up the domestic semiconductor and other related industries by virtue of its years of cooperation experience with domestic universities, research institutions and industry leader. SRI Intellectual, on the other hand, is also able to integrate the EL display technology of the overseas research and development center, rely on the production center in Singapore to focus on automobile, rail transportation, engineering machinery, national defense and other strict industrial applications, provide the global customers with EL display solutions with the characteristics of wide temperature range (-60℃ - 105℃), high reliability (solid state luminescence) and high transparency (80%).