NBJF(SH:603997) Zheng Quan Ri Bao Wang·2025-12-22 07:11Core Viewpoint - Ningbo Jifeng Automotive Parts Co., Ltd. has successfully secured a project for passenger car seat assemblies from a European luxury brand, marking a significant step in its transition from a domestic supplier to a global player in the automotive seating market [1] Group 1: Project Acquisition - Jifeng's subsidiary, Grammer Jifeng (Germany), received a "Designation Letter" from a European luxury brand for the development and production of front, middle, and rear seat assemblies, with a project lifecycle expected to last 8.5 years and a total value of approximately 9.8 billion yuan [1] - This project follows the company's previous success in securing a similar project with BMW AG, indicating strong recognition from overseas luxury brands regarding Jifeng's capabilities in product development, design, and production quality [1] Group 2: Market Expansion - The customer base for Jifeng's passenger car seat business has diversified, covering not only overseas luxury car manufacturers but also domestic new energy vehicle leaders and traditional high-end joint ventures, with market reach extending from China to Europe and Southeast Asia [2] - The company is also expanding its emerging product lines, including hidden electric air vents and hidden door handles, which are expected to become new growth points as they move into mass production [2] Group 3: Operational Improvements - Jifeng has achieved significant progress in the integration and reform of Grammer Jifeng (Germany) since 2025, implementing measures such as adjusting the decision-making team and establishing new incentive systems to enhance management effectiveness [3] - The company has successfully turned around Grammer's financial performance, with a net profit of 150 million yuan in the first three quarters of 2025, marking a return to profitability [3]