Shares of Yinlun Machinery fell despite the Chinese supplier of new energy vehicle heat and cooling management part supplier announced it secured its fourth overseas order of the past two months.

Yinlun [SHE: 002126] was trading down 2.8 percent at CNY16.52 (USD2.30) as of lunch break in Shenzhen today. The Shenzhen Component Index rose 0.1 percent.

Yinlun will supply electric vehicle condensers to a new European client for its global EV platform for five years from December 2026, the Zhejiang province-based company announced late yesterday. The order is expected to generate a total of CNY424 million (USD59 million) in sales revenue, Yinlun added, without revealing any further details.

The fact that this was Yinlun’s fourth overseas order in two months indicates that customers recognize the quality of the company’s thermal management products for NEVs, the operating capability of its localized manufacturing, and its global business, Yinlun noted.

Yinlun is one of China’s leading suppliers of vehicle heat management equipment. Its Shanghai plant has been the supplier of Tesla’s Shanghai gigafactory. Last year, the firm put its plants in Poland and Mexico into operation.

Famous European carmakers Volvo, Porsche, BMW, Audi, Mercedes-Benz, and Renault are among Yinlun’s main customers.