NBJF(SH:603997) Chang Jiang Shang Bao·2025-12-21 23:25Core Viewpoint - The company, Jifeng Co., Ltd. (继峰股份), has secured a significant contract for passenger car seat assemblies from a European luxury brand, marking a milestone in its global expansion strategy with an estimated total project value of 9.8 billion yuan over 8.5 years, starting in September 2028 [2][4]. Group 1: Project Details - The new project involves the development and production of front, middle, and rear seat assemblies for a global sales model [4]. - With this new contract, the total expected sales from Jifeng's projects is projected to exceed 100 billion yuan, with 25 projects in hand [3][5]. Group 2: Financial Performance - In the first three quarters of 2025, the company reported a net profit of 251 million yuan, recovering from a loss of 532 million yuan in the same period of 2024 [7]. - The operating cash flow turned positive, with a net inflow of 760 million yuan compared to a net outflow of 428 million yuan in the previous year [7]. Group 3: Strategic Implications - The acquisition of this contract signifies Jifeng's transition from a domestic supplier to a global player in the automotive interior components market, enhancing its competitive edge in the international high-end market [4][5]. - The company aims to deepen its overseas market presence, potentially leading to more international orders and establishing economies of scale in European production [5].