AUX and Panasonic Sign Agreement to Collaborate

On November 2, AUX Air Conditioner Co., Ltd. ("AUX") and Panasonic Wanbao Appliances Compressor (Guangzhou) Co., Ltd. ("Panasonic") signed a cooperation agreement at AUX Group's headquarters.

Hideji Nakamura, General Manager of Panasonic Wanbao Appliances Compressor (Guangzhou) Co., Ltd., and Xin Ning, CEO of AUX Appliance Group, signed a strategic cooperation agreement on behalf of both parties. Mr. Masachi Miura President of Panasonic New Air Conditioner Co., Ltd. Mr. Hirohiko Nishi, Director of Air Conditioning Parts Business Unit Panasonic Company Limited Panasonic New Air Conditioner Co., Ltd. Mr. Yoji Tanaka, Director of Business and Business Planning Air Conditioning Parts Business Unit, Panasonic Co., Ltd. Mr. Zheng Jianjiang Chairman of AUX Group, Mr. Jack Zheng, Vice President of AUX Group, and Gu Tangtang, Vice President of AUX Appliance Group, attended the signing ceremony.

-Signing Ceremony-

The cooperation focuses on the field of air conditioning compressors, with an initial investment of more than 2.2 billion yuan. This is an important starting point for AUX to build an integrated industrial chain.

After the project is completed and put into operation, AUX will expand its business reach, increase the technological and qualitative advantages of air conditioners, AUX creates synergistic benefits in machine design and component development, effectively shortens the R&D cycle, thus meeting the new needs of downstream consumers for home air conditioners in terms of convenience. health, energy efficiency, intelligence, etc., and strengthen the competitiveness of the market.

Both sides will take full advantage of their strengths. Panasonic will support this project with leading technologies in the field of compression, AUX will work with Panasonic to set a new standard for win-win cooperation between upstream and downstream, taking full advantage of practical advantages such as cost control, efficiency, R&D and sales model.

The partnership represents a new phase of cooperation between AUX and Panasonic, and the two companies will jointly create a wider space for future developments in the air conditioning market to provide consumers with more choices and higher quality products.