Songyuan Safety's wholly-owned subsidiary, Songyuan Anhui Automotive Safety Systems Co., Ltd., recently signed a supply contract with a European automobile manufacturer customer, securing the nomination for the customer's X project. As a qualified supplier, the company will supply products for the X project in the European region. The nominated supply products are steering wheels and airbags, with a lifecycle of seven years and sales equivalent to approximately 691 million yuan. The announcement stated that this nomination represents the S customer's continued recognition of the company's products in terms of technical parameters, quality, durability, and other aspects, further deepening the business relationship between the company and the customer. It will also continue to strengthen the company's position in the automotive passive safety system, enhance brand influence, and support the deepening of the overseas expansion strategy and internationalization strategy.
Zhejiang Songyuan Automotive SafetyWins European automaker project nomination for steering wheels and airbags worth ~691 million yuan over 7 years.
As the subsidiary signing the contract, it directly benefits from the supply agreement.
