Amway becomes the official supplier of BYD and will provide ecological functional polyurethane composite materials

On September 23, Amway issued an announcement stating that the company received the "General Rules for the Procurement of Production Materials for Passenger Vehicles" signed by BYD Supply Chain Management Company on September 22, 2021

Since 2019, the company has carried out contact, interaction and cooperation with BYD, BYD Supply Chain Management Company and BYD related enterprises, in quality management system, product development and design, supplier development and management, material control, production control, cost management, testing It has passed the supplier access audit in aspects such as measurement, sales and customer service, and has recently become an official supplier of BYD, mainly providing ecological functional polyurethane composite materials for some models of BYD

Amway shares pointed out that the company has become an official supplier of BYD and formally cooperated with BYD's wholly-owned subsidiary, indicating that the company's strength in innovation capabilities, process technology, quality management, production control and other aspects has been further recognized by car brand customers.

However, the specific supply of the company to BYD and related parties depends on the market demand of BYD's related models, the company's product development and production, product price fluctuations, raw material supply, BYD's selection of suppliers, and future cooperation between the two parties, etc.

At the same time, Amway shares reminded that the implementation of the agreement may involve the risk of payment of compensation or liquidated damages due to unpredictable reasons such as the company's product quality, equipment failure, etc.