The Ministry of Industry and Information Technology ("MIIT") recently announced the 2024 "Key Little Giants" for specialized and sophisticated enterprises that produce new and unique products, and KHAT was proudly on the list.

"Key Little Giant" is a concept that first appeared in the Notice on Supporting the High-Quality Development of Specialized and Sophisticated SMEs that Produce New and Unique Products released by the Ministry of Finance and MIIT in 2021. According to this policy, the central government will invest more than 10 billion yuan through special funds for SME development during the 14th Five-Year Period. Among the 16,000 "Little Giants," outstanding ones will get extra support. This year, 1,039 companies are titled "Key Little Giants," of which 118 are from Zhejiang.

Applying for a "Key Little Giant" title, one must be "Little Giant" that is not listed in the stock market and from key industries, six fundamental industries, strategic emerging industries, or future-oriented industries.

KHAT specializes in the smart suspension system for new energy passenger cars. Key technologies and products include closed loop ASU, active roll control, hydraulic active suspension, etc. Among them, the mass production and delivery of the active roll control and the closed loop ASU suspension will start in the third quarter of 2025 and the second quarter of 2025, respectively. Both are KHAT's proprietary technologies, and the latter have been nominated by several Chinese and joint venture OEMs. These two products are expected to create a sales turnover of 1.7 billion yuan.

closed loop integrated ASU  & active roll control

KHAT was recognized as "Little Giant" back in 2022 for its on-par quality with foreign brands, rapid sales growth, high R&D investment, innovative outcomes, and sizable equity financing. It is a great honor for a four-year-old business. Today, KHAT is a pacesetter in the industry, evidenced by its supply to 18 car models, a sales turnover of over 1 billion yuan, a headcount of nearly 1,000, a total delivery of 600,000 sets of air springs, and a high Chinese market share that outperforms competitors significantly since 2023.