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On July 31, Jifeng Auto Parts made an announcement revealing that its controlled subsidiary, Jifeng Seating (Thailand) Co., Ltd., had been awarded a 'Nomination Letter' by VinFast. This letter signifies the acquisition of two exclusive projects focused on passenger car seat assemblies. As per the agreement, the company will undertake the development and production of comprehensive seat assembly products for VinFast. The two projects are slated to kick off mass production in August and September 2027, respectively. Each project boasts a lifecycle of four years, with an estimated total contract value nearing RMB 270 million. While these projects are not anticipated to substantially influence the company's performance in the current fiscal year, they are poised to bolster business revenue in the forthcoming years.
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