Subsidiary of Xgimi Technology (688696.SH) received development notification for two projects from a well-known domestic automotive head unit manufacturer.

Xgimi Technology (688696.SH) announced that its wholly-owned subsidiary, Yibin Xgimi Optoelectronics Co., Ltd. (hereinafter referred to as "Yibin Xgimi"), recently received development notifications for two projects from a well-known domestic automotive head unit manufacturer (hereinafter referred to as "the customer"). Yibin Xgimi will become the designated development supplier for the in-car projectors and screens for two models of the customer, supplying intelligent cockpit display products. The in-car business is an important strategic direction for the company, and it is actively promoting this sector. Up to now, the company has secured 5 designated projects in the in-car business, covering intelligent cockpits, intelligent headlight components, with customers including well-known domestic and foreign automotive industry chain enterprises. These designated projects are expected to go into mass production by 2025. This development notification from the customer is beneficial for the expansion and continuous development of the company's intelligent cockpit display business, and may have a positive impact on the company's future performance, aligning with the interests of the company and shareholders. The development notification does not constitute an order or sales contract, and is not expected to have a direct impact on the company's operating performance for the current year. Once the products from this development notification go into mass production, the company will recognize product revenue based on actual order delivery from the customer, expected to have a positive impact on the company's operating performance throughout the project lifecycle.