On October 8th, Lizhong Group announced that its subsidiaries—Xintai Wheel, Mexico Lizhong, and Baoding Lizhong—have secured fixed-point contracts for aluminium alloy wheel projects with two major customers. The project with Customer 1 is anticipated to begin mass production in early 2025 and will span a lifecycle of 10 years, with projected sales totalling approximately RMB 5.24 billion.
Meanwhile, the project with Customer 2 is expected to commence mass production in May 2025 and will have a lifecycle of 5 years, generating estimated sales of around RMB 290 million. The anticipated sales from both projects are projected to reach about RMB 5.53 billion.
This designated project could potentially allow for the sharing of products with future projects. Lizhong Group positions itself as a "global supplier of new automotive materials and lightweight components," drawing on extensive technical and production expertise in automotive lightweighting. This latest contract designation further strengthens the company's competitive edge in its global strategic initiatives, positively influencing its future business performance.
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