Baolong Automotive Gets Order to Supply Auto Part to European Client; Shares Jump 5%
MT Newswires Live
Sep 03, 2024
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.
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