(Yicai Global) March 14 -- Shares of Chinese car parts manufacturer Chuanhuan Technology soared after the firm said it will become a new energy vehicle component supplier for auto giant BYD.

Chuanhuan's stock price [SHE:300547] moved up as much as 9 percent to CNY13.21 (USD2.10) intraday. The shares are still almost 5 percent down this year.

The company will supply five types of hoses for BYD's new model, the Sichuan province-based rubber and plastic parts maker said in a statement recently. Due to a non-disclosure agreement, Chuanhuan cannot reveal the name of the model.

The deal is major for the supplier. The total tally of orders should range between CNY800 million and CNY1 billion (up to USD157.2 million), said the firm. In the first three quarters of last year, Chuanhuan made a net profit of CNY68.8 million (USD10.8 million), according to its earnings report. Operating income reached CNY534 million (USD84 million).

The cooperation marks an important achievement for Chuanhuan in the NEV market and should improve the company's future performance, it said.

Editor: Emmi Laine, Xiao Yi