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Shares of the Chinese software developer surged to the daily trading limit after announcing it has been designated as the official supplier of smart cockpit domain controllers for a prominent Chinese automaker.
The company’s stock jumped 10 percent to CNY11.30 (approximately USD1.59) per share by 1:40 p.m. in Shanghai today.
The four-year agreement is projected to bring in approximately CNY5.6 billion (around USD787.8 million) in revenue, according to a statement issued yesterday. The automaker plans to utilize these products across multiple new vehicle models equipped with Qualcomm 8397 chip-based solutions, with mass production and market launches scheduled in successive phases starting from the fourth quarter of next year.
Smart cockpit domain controllers serve as the central control units for vehicle infotainment and interaction systems, playing a crucial role in enhancing user experience and vehicle intelligence.
These controllers leverage artificial intelligence to understand user needs through voice recognition, visuals, and tactile interactions, allowing for precise and responsive services.
The company has maintained a longstanding partnership with the automaker, which has integrated its smart cockpit and communication technologies into numerous vehicles. However, specific details regarding the client’s identity or delivery timelines remain confidential under nondisclosure agreements.
Among its major automobile clients, the company counts brands such as Geely Holding Group, Changan Automobile Group, FAW Group, and GAC Group, as noted in its latest financial report for the first half of the year.
In the first six months, revenue from smart vehicle-related operations reached nearly CNY2.1 billion (about USD295.2 million), representing roughly 44 percent of total revenue. This growth was primarily driven by the mass production of smart cockpit domain controllers and in-vehicle software platforms.
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