(Yicai Global) March 16 -- Shares of Chinese aluminum product manufacturer Hoshion Industrial Aluminium soared after the firm said it is expecting to gain up to CNY4 billion (USD628.8 million) by providing four clients with electric vehicle battery box parts.

Hoshion's equity price [SHE: 002824] jumped by the daily limit of 10 percent to CNY33.46 (USD5.30). The shares are still down by more than a quarter this year.

The extruded aluminum supplier could earn from CNY3.6 billion to CNY4 billion in four to eight years as it is now qualified to sell battery storage products to four carmakers, the Guangdong province-based company said in a statement yesterday.

One of the new clients is a European luxury vehicle brand, another one is a Chinese smart electric vehicle maker, and the other two are independent Chinese brands.

Obtaining the letter of intent is conducive to forming a long-term partnership with the four firms, the supplier said. Once they send orders, Hoshion's business performance should be improved, it added.

Editor: Emmi Laine, Xiao Yi