Jiwei network news, on the evening of December 17, Baolong Technology issued the "Announcement on Obtaining the Notice of Designated Points for Air Suspension System Product Projects", saying that the company recently received the "Notice of Development Fixed Point" from a domestic new energy vehicle head brand main engine factory (limited to confidentiality agreements and unable to disclose its name), and once again selected the company as a parts supplier for the front and rear air springs of its other new platform project new model air suspension system.
Baolong Technology also revealed that according to the customer plan, the project has a life cycle of 6 years, with a total life cycle amount of about RMB 460 million, and is expected to start mass production in January 2024.
For the impact of the fixed-point project on the company, Baolong Technology said that the company's existing air suspension system products include commercial vehicle air springs, passenger car air springs, electronically controlled shock absorbers, air receivers, sensors and controllers, etc., which can be used for traditional models and new energy models. At present, air suspension system products account for a small proportion of the company's total operating income, and the company has become a parts supplier of air springs before and after the air suspension system of this customer's new platform project, which will have a positive effect on the company's further expansion of passenger car air suspension OEM business.
Baolong Technology also said that the air suspension system product project will not have a significant impact on the company's performance this year, but it will help increase the company's future annual business income and have a positive impact on the company's future operating performance.
According to the data, Baolong Technology is committed to the research and development, production and sales of automotive intelligent and lightweight products, the main products are automotive tire pressure monitoring system (TPMS), automotive metal pipe fittings (including exhaust system pipe fittings, automotive structural parts, EGR pipe fittings), valve nozzles, balance blocks, sensors and ADAS (advanced driver assistance systems) and so on. At present, the technical level of the main products of Baolong Technology is at the leading level in the industry, and the top three in the global subdivision industry.
Looking forward to the future, Baolong Technology said that the company will continue to invest in capacity construction, logistics management, quality assurance, product research and development, process improvement, equipment update, and reduction of production costs to meet the requirements of automakers, first-tier suppliers, independent after-sales distributors, etc.; at the same time, the company will continue to increase investment in technological innovation, adhere to the development strategy formulated, enhance core competitiveness, strengthen business development, strive for greater market share, and actively respond to industry changes and market competition. (Proofreading/Andy)
![The latest announcement of Baolong Technology: Received the "Supplier Selection Notice" from a global auto parts OEM in China[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)