(Yicai) Jan. 24 -- Sinofuse Electric's shares rose after the Chinese circuit protector supplier said a US new energy vehicle startup had placed an order for actuated fuses, with the deal likely to bring CNY145 million (USD20 million) in revenue.

Sinofuse [SHE: 301031] ended 5.5 percent up at CNY123.22 (USD16.99) a share today. The broader Shenzhen Component Index rose 1.2 percent.

In an exclusive deal, Sinofuse will be the designated supplier of the power fuses for the US client's next-generation 450 vehicles dynamic control electrification platform for a new project, the Xi'an-based firm announced late yesterday. Deliveries will start in April next year, it added.

Because of a confidentiality agreement, Sinofuse cannot disclose the client's name, it said, without revealing the project's supply cycle.

Fuses protect electrical devices from damage caused by short circuits, with actuated fuses having many advantages compared to traditional ones and can meet the demanding circuit protection needs of NEVs' high-voltage systems. In addition, such fuses can actively cut off high-voltage circuits when necessary, ensuring system and personal safety.

Sinofuse's actuated fuses have entered the supply chains of well-known overseas carmakers, including Tesla and Mercedes-Benz Group, according to the company's financial report for the first half of last year.  

Sinofuse's revenue from NEV makers reached CNY365 million (USD50.4 million) in the first six months of 2024, accounting for around 61 percent of its total income.  

Editor: Martin Kadiev