Baolong Automotive Gets Order to Supply Auto Part to European Client; Shares Jump 5%

MT Newswires Live
2024/09/03

Shanghai Baolong Automotive (SHA:603197) received an order to supply automobile parts to an unnamed European manufacturer, according to a Tuesday disclosure on the Shanghai Stock Exchange.

The Chinese auto parts manufacturer will produce front and rear air springs for air suspension systems as part of the client's seven-year platform project.

The production, which will start in 2027, is expected to generate 240 million yuan.

Shares of the company jumped less than 5% in recent trade.

Price (RMB): ¥30.21, Change: ¥+1.3, Percent Change: +4.61%

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