Shanghai Aerospace Automobile Electromechanical

What Shanghai Aerospace Automobile Electromechanical does

Shanghai Aerospace Automobile Electromechanical (HT-SAAE, Shanghai Stock Exchange ticker 600151) is a Shanghai-headquartered, state-owned industrial conglomerate controlled by the 8th Research Academy of China Aerospace Science and Technology Corporation (CASC). The company operates three business segments: (1) solar photovoltaic manufacturing covering silicon wafers (800MW, Inner Mongolia), cells, and modules (1.2GW, Lianyungang; 600MW+300MW, Turkey) under the HIGH WAY, MULTIWAY, and Panda series, soon to be consolidated under the HT-SOLAR brand; (2) automotive thermal systems under the ESTRA brand, including HVAC, powertrain cooling, and battery thermal management components; and (3) military-civilian integration products encompassing electric power steering (EPS) and aerospace-grade composite materials, with the latter supplying China's manned spaceflight program.

The company's PV modules target global project developers, EPC contractors, and utilities (named customers include SPIC), with utility-scale products such as the HT72-18X series and integrated PV+ESS offerings. The thermal systems business operates 12-14 factories across China, Korea, Mexico, Russia, Poland, Thailand, and Turkey, employing 3,000+ staff including 560+ researchers, and sells directly into OEM platforms of GM, Volkswagen, BMW, SAIC, Honda, JAC, and QingLing Motors. The military-civilian integration segment leverages aerospace heritage in composites and EPS to participate in state defense and space programs.

The business model is primarily B2B: thermal systems and EPS are sold through enterprise field sales into OEM supply chains under multi-year platform contracts; PV modules are sold via regional distributors and direct-to-developer relationships with a global sales/marketing footprint of 108 locations; military-civilian products are procured through state-directed channels. Manufacturing is distributed across Asia, Europe, and the Americas to meet OEM localization requirements and mitigate trade exposure. The company holds 420+ patents (260+ granted), maintains BNEF Tier 1 PV manufacturer status, and has been a PVEL Top Performer for five consecutive years.

Name

Shanghai Aerospace Automobile Electromechanical

Legal name

上海航天汽车机电股份有限公司

Website

https://ht-saae.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

HT-SAAE is a Shanghai-listed, state-owned industrial manufacturer under CASC's 8th Research Academy producing solar PV modules, automotive thermal systems (ESTRA brand) for global OEMs, and aerospace composites and EPS for military-civilian applications.

Ownership category

akta.pro rank

Product category

Solar Photovoltaic Modules and Automotive Thermal Components

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Solar Electric Power Generation (221114)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Steam & Air-Conditioning Supply (4961), Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

Automotive HVAC Modules & Integrated Climate Units (IMACALAA)

akta.pro secondary industries

Solar PV Module Manufacturing (Cells, Modules, Thin-Film) (EUAMABAD), HVAC Equipment (Heating, Cooling & Air Handling) (IMAHAKAB), Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Solar Plant Components Supply & Manufacturing (Modules, Cells, Wafers, Mirrors, Heliostats) (EUACAGAK)

Keywords

• Solar photovoltaic modules
• Automotive thermal systems
• Electric power steering
• Aerospace composite materials
• Photovoltaic system integration

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices20 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Solar Photovoltaic Products: Revenue from manufacturing and sales of solar PV modules (HIGH WAY, HIGH WAY DG, HIGH WAY PLUS series), silicon materials, and solar cell products through subsidiaries including Lianyungang Shenzhou New Energy (1.2GW capacity) and Inner Mongolia Shanghang New Energy (800MW polycrystalline silicon wafer capacity).
2. Automotive Thermal Systems: Revenue from automotive air conditioning systems, engine cooling modules, heat exchangers, compressors, and thermal management solutions. Products supplied to major global OEMs including GM, Volkswagen, BMW, SAIC, Honda, and others through 14 factories and 4 R&D centers globally.
3. Military-Civilian Integration: Revenue from advanced composite materials for aerospace applications including China's manned space programs, moon exploration projects, and weapon systems. Also includes expansion into rail transportation, automotive components, energy transmission, civil aviation, and marine engineering applications.
4. Solar PV System Integration and EPC: Revenue from photovoltaic distributed system design, installation, and EPC (Engineering, Procurement, Construction) contracting services, including 'photovoltaic + energy storage' system integration.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

HT-SAAE manufactures and sells solar photovoltaic modules and cells, polycrystalline silicon ingots and wafers, and complete photovoltaic + energy storage system integration / EPC services through its Lianyungang Shenzhou and Inner Mongolia Shanghang subsidiaries. It also produces automotive thermal management systems (HVAC, engine cooling, compressors, heat pumps) under the global ESTRA brand for major OEMs, plus self-developed Electric Power Steering systems and advanced composite materials for aerospace applications.

Product overview

HT-SAAE (Shanghai Aerospace Automobile Electromechanical Co., Ltd.) operates as a diversified aerospace technology applications company with three core business segments: (1) New Energy Photovoltaic - including silicon materials (Inner Mongolia Shanghang), solar modules (Lianyungang Shenzhou), and system integration (Solar Energy System Engineering Branch), with product lines including HIGH WAY, HIGH WAY DG, HIGH WAY PLUS, MULTIWAY, and Panda Series PV modules; (2) Automotive Thermal Systems - under the global ESTRA brand, providing HVAC modules, engine cooling, compressors, and heat pump systems with 14 factories and 4 R&D centers globally, serving customers including GM, Volkswagen, BMW, SAIC, and Honda; (3) Military-Civilian Integration - including EPS (Electric Power Steering) systems and advanced composite materials for aerospace, rail transportation, and automotive applications. The company is listed on Shanghai Stock Exchange (stock code 600151) and has been recognized as a Bloomberg New Energy Finance Tier 1 PV module manufacturer.

Differentiator

Problem solved

Functional benefit

Brands

• HIGH WAY: Solar photovoltaic module product series including monocrystalline and polycrystalline modules, single glass modules with up to 3% attenuation rate
• HIGH WAY (DG)
• HIGH WAY PLUS
• MULTIWAY
• Panda Series
• ESTRA

Products and services

• HIGH WAY Series Photovoltaic Modules

Quantifiable outcome

• Module degradation rate <3% for HIGH WAY series
• +4 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• NavInfo (四维图新)coreStrategic or Co-development Partner · 31 May 2019HT-SAAE and NavInfo signed strategic cooperation agreement where HT-SAAE will provide application platform for NavInfo's self-developed automotive electronic chips and provide application-side technical support and services. NavInfo will provide leading chip products and technical support for HT-SAAE's independent product development projects.
• Bloomberg New Energy Finance (BNEF)coreOthersBloomberg New Energy Finance rates HT-SAAE as Tier 1 PV module manufacturer based on their evaluation system that assesses bank financing approval levels. Tier 1 designation is the most stringent standard requiring suppliers to provide proprietary brand products to 6 different projects with non-recourse financing from 6 different commercial banks.
• PVEL (PV Evolution Labs)coreOthersPVEL conducts independent testing of PV module reliability and has recognized HT-SAAE as Top Performer for five consecutive years in their PV Module Reliability Scorecard.

Scale indicators16 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Canadian Solar: Vertically integrated solar module manufacturer with utility-scale project development arm. Closely comparable to HT-SAAE on module-bankability positioning and integrated EPC/system business.
• JinkoSolar: Largest Chinese PV module shipper globally with Tier 1 BNEF status and strong international distribution. Closely comparable to HT-SAAE on the PV side in product portfolio, bankability, and export channels.
• Trina Solar: Major Chinese vertically-integrated PV module manufacturer with bankable global project finance presence. Directly comparable to HT-SAAE's PV module business across product lines, Tier 1 status, and customer overlap (utility-scale and distributed generation).
• LONGi Green Energy: Vertically integrated Chinese monocrystalline silicon and module leader. Relevant peer for HT-SAAE's silicon-to-module integration model and large-scale module manufacturing, though LONGi is mono-focused while HT-SAAE retains poly exposure.
• JA Solar Technology: Chinese PV cell and module manufacturer with global BNEF Tier 1 status. Comparable to HT-SAAE across product lines, vertical integration depth, and export footprint.
• Hanon Systems: Korean automotive thermal management supplier with global manufacturing footprint. Closely comparable to ESTRA's Korean manufacturing presence (Daegu/Jincheon) and OEM customer overlap.

Emerging players

• Risen Energy: Chinese PV module manufacturer with strong heterojunction and TOPCon technology focus. Comparable to HT-SAAE as a Chinese module peer competing for similar global utility-scale and distributed customers, though Risen has a more aggressive technology positioning.

Broad incumbents

• Mahle: German automotive thermal and engine cooling component specialist. Comparable to HT-SAAE on engine cooling modules, radiators, and HVAC components sold into European OEMs.
• Denso: Global Tier 1 automotive thermal management and component supplier. Highly comparable to HT-SAAE's ESTRA thermal business on customer profile (GM, VW, BMW, Honda) and product categories (HVAC, cooling, compressors).
• Valeo: French automotive thermal systems specialist supplying global OEMs. Directly comparable to ESTRA on thermal management product range and European OEM relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance17 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shanghai Aerospace Automobile Electromechanical