(Yicai) Dec. 4 -- Focuslight Technologies’ stock price jumped after the Chinese maker of laser equipment announced it will supply radar parts for a new vehicle produced by a top-tier European carmaker.

After climbing by as much as 6.7 percent in Shanghai this afternoon, Focuslight [SHA: 688167] finished 2.3 percent higher at CNY125 (USD17.55) a share.

The automaker wrote to Focuslight confirming it as a designated supplier of key components for a new mass-production vehicle, the Xi'an-based company said yesterday, without disclosing the buyer’s name or any financial details due to confidentiality.

The pair has already agreed unit prices and annual supply volumes, the company said, adding that shipments should begin in the first half of 2025 with a total volume of 500,000 units over the life of the project.

This is the first supply deal that the two companies have signed, but more could follow as they are discussing further cooperation, Focuslight added.

Focuslight is speeding up its overseas expansion. The firm said early last month that it plans to acquire SUSS MicroOptics, a Swiss maker of optical components, for EUR75.5 million (USD82.1 million) to expand upstream in optical parts, mid-stream auto parts, and semiconductor solutions.

Editor: Emmi Laine