(Yicai Global) Dec. 2 -- Shares of Longli Technology rose after the Chinese light-emitting diode module maker said it has received its first CNY3 billion (USD425.2 million) order from German auto parts supplier Robert Bosch.

Longli's stock [SHE: 300752] was traded 2.4 percent up at CNY19 (USD2.70) as of 2.14 p.m. after surging as much as 6 percent intraday.

The manufacturer of semiconductor devices will provide Bosch's BMW project with mini-LED backlight display modules from 2025 to 2033, the Shenzhen-based firm said in a statement yesterday, citing the first agreement between the pair.

The deal will accelerate Longli's expansion in the international auto market, the supplier said, adding that it will have a positive effect on Longli's future performance. However, the firm's core business will not become majorly dependent on the cooperation.

Last year, Longli recorded a net loss of about CNY107 million (USD15.2 million). Its revenue was 2 percent down at around CNY2 billion as clients substituted LED displays with organic light-emitting diode displays, the rivalry intensified, and product prices fell amid the Covid-19 pandemic, the firm said.

Editor: Emmi Laine, Xiao Yi