NBJF(SH:603997) Zheng Quan Shi Bao Wang·2025-12-22 00:37Core Viewpoint - The announcement by Jifeng Co., Ltd. regarding its subsidiary Grammer Jifeng (Germany) securing a significant contract with a European luxury car manufacturer marks a pivotal step in the company's global expansion strategy, with an expected total value of 9.8 billion RMB over an 8.5-year lifecycle [1][2]. Group 1: Project Details - The project involves the development and production of front, middle, and rear seat assemblies for passenger vehicles, set to commence mass production in September 2028 [1]. - This contract is a milestone in the company's globalization efforts, indicating a shift from being a domestic supplier to a global player in the passenger car seat market [2]. Group 2: Market Position and Strategy - The successful acquisition of this order reflects the recognition of Jifeng Co., Ltd. by overseas luxury automotive brands, solidifying its position in the high-end automotive supply chain [1][2]. - The company aims to expand its overseas market presence and enhance its production capabilities in Europe, creating favorable conditions for economies of scale [2]. Group 3: Financial Performance and Integration - The integration reforms of the subsidiary Grammer have shown significant results, with a reported net profit of 150 million RMB in the first three quarters of 2025, marking a turnaround from previous losses [3]. - The collaboration of "Chinese cost" and "German technology" has created a unique competitive advantage for the company in the global high-end seat market [3]. Group 4: Future Outlook - With the establishment of production bases in Europe and the successful acquisition of more overseas orders, the company is expected to capture a larger market share in the global high-end seat sector, promising long-term returns for investors [3].