(Yicai) Feb. 21 -- Shares of Asia-Pacific Light Alloy Technology rose after the Chinese maker of automotive aluminum extrusion products said it became the designated parts supplier of the first electric vehicle of an overseas carmaker.

Asia-Pacific Light Alloy [SHE: 002540] was trading up 3.8 percent at CNY5.15 (72 US cents) as of 1.05 p.m. today. The Shenzhen Component Index rose 2.1 percent.

Asia-Pacific Light Alloy will supply equalizer beams, which link the suspension systems of adjacent axles to balance cars’ weight, to the overseas client for six years from next year, the Jiangsu province-based company announced yesterday. The order is expected to bring Asia-Pacific Light Alloy a total business revenue of CNY395 million (USD55 million).

The exact delivery schedule and price and amount of goods to be supplied will be determined by a formal contract the pair will sign in the future, Asia-Pacific Light Alloy noted, without revealing any further details.

Asia-Pacific Light Alloy is one of the world’s largest suppliers of automotive aluminum products that boasts Toyota Motor, Mercedes-Benz, BMW, and Volkswagen among its main overseas customers, according to the company’s 2022 earnings report. Asia-Pacific Light Alloy also makes high-quality aluminum products for the aviation, aerospace, railway, and marine sectors.

Editor: Futura Costaglione