(Yicai) Dec. 11 -- Shares of Changhua Holding Group rose after the Chinese car parts manufacturer said it would develop products for a renowned domestic flying car brand.

Changhua [SHA: 605018] closed 2.9 percent higher at CNY10.54 (USD1.50) after jumping by 7.1 percent intraday.

The company received a notice about a fixed-point order for fasteners and metal structural parts from a developer of hybrid vehicles, the Zhejiang province-headquartered firm announced yesterday, without disclosing the name of the client due to a confidentiality agreement.

The five-year project is predicted to generate around CNY91 million (USD12.6 million) in revenue.

Traveling in flying cars is expected to become a commercially viable reality in China in the next few years as such startups have started attracting venture capital in recent years while prompting price surges in related stocks.

Changhua provides fasteners, as well as stamping and welding products for automotive customers, including local joint ventures of Volkswagen, General Motors, Ford, Honda, Toyota, and Nissan, per the firm's latest semi-annual report.

Editor: Emmi Laine