Shanghai W-Ibeda High Tech Group (SHA:688071) received a notification to develop high-precision inertial and satellite navigation systems for two vehicle models.
The designation notice was from an undisclosed domestic automaker's new energy brand, according to a Tuesday filing with the Shanghai bourse.
The sales amount will be related to the actual production of the car.
The company manufactures electrical signals measuring and testing instruments. Its shares closed 6% higher Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.