On July 9th, Gelunhui announced that its subsidiary Union Optech (300691.SZ) has recently received the tender notice and Supplier Nomination Letter from China FAW Group Corporation (FAW) stating that Union Autos has been designated as the product supplier for some models of FAW's forward millimeter-wave radar, front corner millimeter-wave radar and rear corner millimeter-wave radar assembly. The procurement cycle of this bid is 5 years, with an expected total procurement amount of RMB 0.17 billion.
According to the cooperation plan, this project is expected to begin mass production and supply before the end of 2024. The specific supply quantity and amount have not yet been determined. It is expected that it will not have a significant impact on the company's performance this year. However, this project is beneficial for the future sales scale and income of the intelligent driving business and will have a positive impact on the company's overall business performance in the future. The specific amount and time of the impact will depend on the development of orders.