Zhitong Finance App News, Jifeng Co., Ltd. (603997.SH) announced that Jifeng Seat (Thailand), a holding subsidiary of the company, recently received a “nomination letter” from the customer, and Jifeng Seat (Thailand) was designated by VinFast Trading And Production Joint Stock Company for two passenger car seat assembly projects to develop and produce vehicle seat assembly products for customers. According to the customer plan, mass production of the above two projects is expected to begin in August 2027 and September 2027, respectively. The project life cycle is 4 years, and the total estimated life cycle amount is about 270 million yuan.
The project targets two high-end seat assemblies from leading car companies in overseas regional markets. The above models are positioned in the luxury market segment, and the value of bicycles is significantly higher than traditional seat projects, reflecting overseas customers' recognition of the company's ability to develop, design, technical quality, and production guarantee of passenger car seat products. The company's continuous accumulation of overseas orders will create favorable conditions for the company's production to form economies of scale. At the same time, the targeting of high-end luxury seats overseas has accumulated brand reputation for the company to continue to obtain more projects in the future. This project is not expected to have a significant impact on the company's performance this year, but the targeting of this project will help increase the company's future annual business revenue and have a positive impact on the company's future business performance.