(Yicai) Sept. 3 -- Shares of Yanpu Metal Products surged after the Chinese car seat parts maker said it will receive at least CNY2.7 billion (USD379.4 million) after being named the designated supplier to the new platform project of a leading domestic new energy vehicle maker.

Yanpu [SHA: 605128] soared 7.5 percent to close at CNY26.40 (USD3.71) a share in Shanghai today, after earlier jumping by as much as 9.9 percent.

Yanpu will provide seat framework general assembly products for the client's three new models over the next five years, the Shanghai-based company announced late yesterday. Mass production of the first model will start next March, with the other two to follow next July, it added.

The CNY2.7 billion in revenue is based on the future shipments of three new models, Yanpu noted, without disclosing the client's name due to a confidentiality agreement. Additional potential income from other models developed based on the same platform is excluded, it added.

Yanpu is the designated supplier of many well-known domestic and international auto seat makers, including Dongfeng Lear Auto Seat, Magna International, BYD, and Xpeng Motors, according to its latest financial report.

Editor: Martin Kadiev