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WUXI, China - Mingteng International Corporation Inc. (NASDAQ:MTEN), an automotive mold developer and supplier in China with trailing twelve-month revenue of $10.12 million and impressive 163% stock price growth over the past six months, announced Wednesday that its subsidiary, Wuxi Mingteng Mould Technology Co., Ltd., has entered into a strategic cooperation framework agreement with Suzhou Lvkon Transmission Technology Co., Ltd.
The agreement, signed in July 2025, establishes collaboration between the companies in mold design and production, and the integrated delivery of new energy aluminum alloy components. The partnership will focus on die-casting and foundry molds supply and procurement.
Lvkon specializes in power transmission systems for new energy commercial vehicles in China. According to the press release, Lvkon currently contributes approximately 9% of Mingteng International’s total sales.
Yingkai Xu, Chairman and CEO of Mingteng International, stated that both companies have agreed to increase new product development efforts in the second half of this year. The company projects that total orders will double in 2026 compared to 2025.
The agreement comes as China’s new energy commercial vehicle segment experiences growth, driven by government support and demand for carbon emission reduction.
Mingteng International develops and supplies automotive molds with a focus on casting molds for various automotive systems, including components for new energy electric vehicles. The company’s production plant is located in Wuxi, China.
In other recent news, Mingteng International Corporation Inc. has entered into a three-year technology development agreement with Jilin University. This collaboration, which started in December 2024 and will last until December 2027, focuses on developing a new hot-work die steel for die-casting molds. The goal is to create molds with an average lifespan exceeding 80,000 cycles, enhanced thermal fatigue performance compared to the imported 8407 die steel, and a 40% reduction in overall material costs. These developments represent a significant step forward in material technology for Mingteng International. The partnership underscores the company’s commitment to innovation and cost-efficiency in its operations. This agreement is expected to bolster Mingteng International’s competitive edge in the die-casting industry. Investors may find these advancements noteworthy as they reflect the company’s strategic efforts to improve product performance and reduce costs.
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