(Yicai) Sept. 16 -- Shares of Ningbo Joyson Electronics surged by the exchange-imposed daily trading limit after the Chinese automotive electronics supplier said it received orders worth CNY15 billion (USD2.1 billion) from two world-leading automakers.

Joyson [SHA: 600699] was trading up 10 percent at CNY30.48 (USD4.28) as of lunch break in Shanghai today.

Joyson will develop a series of automotive intelligent components and supply them to the two clients for their global vehicle models, with mass production scheduled to start in 2027, the Ningbo-based firm announced yesterday. It did not unveil the name of the clients due to a non-disclosure agreement.

The automotive intelligent parts from the deal include central computing units, components integrating intelligent driving, intelligent connectivity, and intelligent cockpit functions, and smart connectivity products, Joyson noted, without disclosing the length of the projects' lifecycle.

These projects demonstrate that Joyson's automotive intelligent technology, product quality and performance, and localized adaptation solutions for related technologies in major global automotive markets have been recognized by leading customers, the firm pointed out.

The fact that cars are becoming more and more intelligent will further Joyson's global market expansion of related products and boost the company's operating income in the coming years, Joyson added.

Editor: Futura Costaglione