IAT Won Bid for Automobile Production and Investment Project in Nanning for 337 Million Yuan

Source: Author: Date:2021-02-19 Read:351

According to a recent announcement of IAT Automobile Technology Co., Ltd., IAT (300825.SZ) (hereafter referred to as "the Company") received an award notice from Nanning Industrial Investment Automobile Park Development Co. Ltd.

According to reports, this project will provide the tenderer with design of new energy vehicle-related parts, synchronous engineering analysis, design and manufacturing of part molds, jigs, and fixtures, inspection tools, organization and supply, project management, and other services. The winning bid was RMB 337 million, accounting for 38.01% of the company's audited operational revenue in 2019, which will benefit the company's operating results in 2021 and subsequent years.

According to IAT, the company boasts a high-quality technical and management staff that specializes in vehicle research and development as well as crucial component design and production. The bid award emphasizes the company's competitive advantage in the development and design of new energy vehicle parts, fully reflects the customer's great confidence in the company's comprehensive technical strengths, such as capabilities in parts mold and inspection tool design, manufacturing engineering, and project management, and consolidates the company's industry leadership. 

The winning proposal is consistent with the company's overall business strategy. The successful completion of the project will provide the company with more experience in the research and development and project management of new energy vehicle-related parts and components, providing a strong impetus to the company's market expansion and aiding in the enhancement of the company's market competitiveness in new energy vehicle research and development.

As per the release, the corporation has not formally signed the deal with the tenderer, and the contract conditions are yet unknown. Significant changes in the external macro environment, changes in important national policies, changes in end-user demand, and other unforeseen or force majeure variables may occur throughout the project implementation phase, affecting the project's final implementation. (p5w.net)

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