Mingxin Xuteng

Mingxin Xuteng received a sourcing award from a leading new energy vehicle customer to develop interior materials for its NEV models, with a total estimated lifecycle sales value of approximately CNY 650 million.

Mingxin Xuteng (605068.SH) has been selected as the leather material supplier for a new project by a major Chinese automotive OEM. The project is expected to start mass production in October 2024, with a lifecycle of about 5 years and a total value of approximately RMB 870 million.

Mingxin Xuteng's Phase I water-based microfiber project with annual capacity of 2 million square meters has achieved mass production, and Phase II with 8 million square meters capacity is underway.

Mingxin Xuteng received a nomination letter from a well-known automotive OEM to supply suede microfiber material for a new project, with a total lifecycle value of about CNY 300 million. Production is expected to start in 2023.