On April 23, Juguang Technology issued a statement revealing that it had received notice from AG Company, a prominent European automotive Tier 1 supplier, informing them of a strategic decision by one of AG Company's end customers. This decision involved the cancellation of the LiDAR feature configuration for a previously scheduled vehicle model. Consequently, the related parts project has been terminated. Initially slated for mass production in 2027, the project anticipated a demand of approximately 150,000 units over its lifespan and was currently in the development and verification phase.

Juguang Technology and AG Company are currently engaged in discussions regarding contractual obligations and the handling of unexecuted contract funds as a result of the project's termination. AG Company has assured that other designated projects remain unaffected and will proceed as scheduled. Looking ahead, both parties aim to deepen their collaboration and explore new project opportunities, with the potential for initiating new designated projects in the future.