(Yicai) April 17 -- The new Vietnamese factory of Anli Material Technology has become the supplier of US home furniture giant La-Z-Boy, which has already been a client of the Chinese leather manufacturer’s plant in China since 2019.

After a rigorous on-site review, La-Z-Boys chose the Vietnamese plant in which Anli holds a 71 percent stake as its supplier of eco-functional polyurethane synthetic leather and composites for La-Z-Boy’s sofa products along with other home products, the Anhui province-based company announced yesterday, without disclosing the value of the deal.

Anli’s plant in Vietnam was put into production last year to adapt to the global supply chain transfer, expand cooperation with international customers, and mitigate tariff risks from potential international trade conflicts. Before being recognized by La-Z-Boy, the facility had also become a member of sneaker giant Nike’s global footwear material supply chain.

Thirty-nine percent of Anli’s revenue came from overseas clients last year, according to the company’s latest annual report.

Anli’s shares [SHE: 300218] closed 0.2 percent up at CNY13.77 (USD1.90) in Shenzhen today, after earlier gaining as much as 2.7 percent. The stock has risen about 67 percent since the Chinese mainland capital market started to rebound in early February.

Editor: Futura Costaglione