(Yicai) Dec. 28 -- Shares of C*Core Technology advanced after the Chinese chip designer said it received the first order for its two new self-developed auto chip models.

C*Core Tech [SHA: 688262] was trading up 5.5 percent at CNY28.48 (USD4.03) as of 1.30 p.m. in Shanghai today.

Zhejiang province-based Itronsvs will purchase 700,000 units of C*Core Tech’s two auto chips, one of which is for airbag ignition drives, the Suzhou-based supplier announced yesterday, without revealing the transaction price. The first batch of 170,000 chips will be delivered between January and March 2025.

The two companies also signed a three-year partnership to jointly develop technologies for auto airbag controllers, taking advantage of C*Cote Tech’s chip-making technologies and Itronsvs’ assembly capability, thus making locally-made airbag controllers available in the Chinese market, C*Core Tech noted.

Moreover, Itronsvs will preferentially use chips from C*Core Tech, which will provide technological support and competitive prices to its client for the development of airbag controllers, the firm added.

Editor: Futura Costaglione