Cogobuy Partners with Allwinner on Chip Localization Benefits from 1.6 Trillion Opportunities

HONG KONG, April 22, 2018 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), the e-commerce platform serving the electronics manufacturing industry in China, is pleased to announce the Company has made new breakthroughs in its long-term cooperation with the leading domestic chip manufacturer, Allwinner Technology ("Allwinner", 300458.SZ). With Allwinner's chip technology, the Group's IngDan Lab has successfully developed SLAM AI modules for robotic vacuums, that have now entered mass production.

In recent weeks, the localization of chips has become one of the country's most imperative priorities. In 2013, Cogobuy took the lead on the national integrated circuit industry plan. Since then, Cogobuy has developed deep relationships with 49 leading chip manufacturers in China to help secure Allwinner's leading position in its industry. The Company estimates shipments of robotic vacuums and smart speakers will reach 4 million units and 1.5 million units respectively this year, providing a huge boost for the Group's direct sales business and strong proof to fostering the "China Core" industry.

Additionally, since the fourth quarter of last year, the Group's IngDan Lab officially completed its transition to an AI hardware R&D Center. Its K-system developed SLAM integrated modules with the Lab's own patented technology, based on the R16 chip technology from Allwinner. In its next phase, the Company plans to optimize its SLAM technology with Allwinner, which will help the Company better capture all the opportunities resulting from the chip localization in the robotic and industrial automation particularly.

IngDan Lab will consecutively launch its K-Image processing modules, K-VSLAM/LDS and K-ADAS modules to provide AI hardcore products to vertical industries such as robotics, smart cars, smart homes and healthcare, which will become the additional driven force of the Company.

Mr. Jeffrey Kang, CEO of Cogobuy Group, said, "The recent China-U.S. trade war has forced chip localization to become a matter of national importance. China's total chip imports have grown to US$260 billion (approximately RMB1.64 trillion) annually, and localization of this volume will bring enormous opportunities to domestic chip companies in the future. Cogobuy could rely on this huge demand and its client database to capture more opportunities in smart hardcore and LoT industries."

About Cogobuy Group

Cogobuy Group is an e-commerce service platform serving the electronics manufacturing industry in China. Through the e-commerce platform, which includes a direct sales platform, an online marketplace, and a dedicated team of technical consultants and professional sales representatives, the Company provides customers with comprehensive online and offline services across pre-sale, sale, and post-sale stages. The Company serves mainly SME electronics manufacturers. For further information, please refer to the Company's website at http://www.cogobuy.com/

About Allwinner Technology

Allwinner Technology (stock code: 300458.SZ), founded in 2007, is a leading fabless design company dedicated to smart application processor SoCs and analog ICs. Its product line includes multi-core application processors for smart devices and smart power management ICs used by brands worldwide. With its focus on cutting edge UHD video processing, high performance multi-core CPU/GPU integration, and ultra-low power consumption, Allwinner Technology is a mainstream solution provider for connected automotive application, smart hardware, smart home device, service robot, drone, virtual reality, tablet, internet TV, automotive in-dash device, smart power management, and mobile connected device markets. For further information, please refer to the Company's website at http://www.allwinnertech.com/

SOURCE Cogobuy Group