Ningbo Jifeng Auto Parts (603997.SH) subsidiary has been designated for the passenger car seat assembly project, with an estimated total life cycle amount of about 270 million yuan.

Ningbo Jifeng Auto Parts (603997.SH) announced that its controlling subsidiary, Jifeng Seating (Thailand), recently received a "Nomination Letter" from a client. Jifeng Seating (Thailand) has been designated for two passenger car seat assembly projects by VinFast Trading and Production Joint Stock Company, and will develop and produce complete seat assembly products for the client. According to the client's plan, mass production for these two projects is expected to begin in August and September 2027 respectively, with a project lifecycle of four years and a total estimated value of approximately 270 million yuan. These projects represent high-end seat assemblies for leading automobile manufacturers in the overseas market. The aforementioned vehicle models are positioned in the luxury segment, with the value per car significantly higher than that of traditional seat projects. This reflects the overseas client's recognition of the company's capabilities in developing and designing passenger car seat products, as well as its technological quality and production assurance capabilities. The continuous accumulation of overseas orders will create favorable conditions for the company to achieve economies of scale in production. Additionally, the designation of these high-end luxury seats will help the company build brand credibility for securing more projects in the future. This project is not expected to have a significant impact on the company's performance for the current year, but it will benefit the company's business revenue in the coming years and positively influence its future operating performance.