On December 26, Jiangsu Yuda Auto Fabric Group Co., Ltd. ("Jiangsu Yuda") announced that it had signed a car interior fabric with Beijing Automotive Co., Ltd. ("BAC") on December 25. Product Strategic Framework Agreement ("Agreement").
According to the agreement, Jiangsu Yida should make full use of the R&D advantages of its interior fabric products, participate in the simultaneous development of similar products of BAIC, and share the product testing platform. BAIC shares respects the initial investment of Jiangsu Yida for the development of new products and encourages them to meet Exclusive supply under the premise of quality, cost and delivery capacity requirements; Jiangsu Yida will cooperate with the quality improvement activities of BAIC or its interior suppliers to jointly promote the quality improvement of interior fabrics. The term of the agreement between the two parties shall expire on December 31, 2019.
The announcement stated that the full implementation of the agreement will have a positive impact on the future operating results of Jiangsu Yuda and further promote its development. Shen Jieliang, chairman of Jiangsu Yuda, said in an interview that the interior fabric of the company is facing a bottleneck in development. The reporter believes that the signing of the agreement will have a positive impact on the image of the independent brand of the interior fabric of the company. The promotion of the original brand and the future development of e-commerce has a driving role.
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