Chervon Auto Precision Receives Two Orders Worth 632 Million Yuan

MT Newswires Live10-15

Nanjing Chervon Auto Precision Technology (SHA:603982) received two orders from a domestic company and European brand amounting to 632 million yuan, according to a Tuesday disclosure on the Shanghai Stock Exchange.

The Chinese auto parts manufacturer said it will provide power supply boxes to a local new energy vehicle parts company for 446 million yuan. The equipment will be used in global new energy platform models of a well-known European automobile brand for four years, with production to start in 2025.

Separately, a European vehicle manufacturer selected Chervon Auto Precision as its inverter housing supplier for another four-year project. The total sales of the equipment is expected to generate 186 million yuan, with production to start in 2026.

Price (RMB): ¥8.31, Change: ¥+0.020, Percent Change: +0.24%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment