(Yicai Global) May 13 -- Yanpu Metal Products surged by the exchange-imposed limit after the Chinese supplier of metal stamping part said it received a CNY707.5 million (USD105 million) order for car seat frames from Chinese electric vehicle giant BYD.
Shares of Yanpu Metal [SHA: 605128] jumped 10 percent today to close at CNY27.58 (USD4.06).
Its plant in Huangshan, Anhui province, will provide BYD with seat frames for the automaker’s new model to be assembled at its Changzhou plant, Shanghai-based Yanpu Metal said in a statement late yesterday.
The seat frames will start being mass produced at the factory from this November through 2027, Yanpu Metal added, noting that the payment will be diluted in the next five years.
BYD’s Changzhou plant started production in January and has a design capacity of 20,000 EVs a month.
Editor: Futura Costaglione