The agreement centers on production burn-in services specifically designed for electric vehicle applications. While the company withheld the name of the new client, management indicated the contract serves as a strategic expansion of their automotive footprint. The deal guarantees minimum billings of $4.7 million, with internal projections suggesting the total value could scale to $6 million over the three-year term.
In section Market Quotes
Trio-Tech Stock Jumps on Major EV Semiconductor Contract
A 12% surge in Trio-Tech International shares on Thursday followed the announcement of a $4.7 million production contract. The three-year deal, secured with a leading global integrated device manufacturer, marks the company's second major entry into the electric vehicle semiconductor market, pushing year-to-date stock gains to 72%.
Chief Executive S.W. Yong noted that the partnership provides long-term revenue visibility and reinforces the company's technical standing in the burn-in sector. Following the news, shares climbed to $11.39 during midday trading, reflecting investor optimism regarding the firm's growth trajectory within the EV supply chain.
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