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[Yatong Seiko: plans to acquire 55% of Xingye auto parts to enrich commercial vehicle parts product types] Securities Times e, Yatong Seiko (603190) disclosed a major asset purchase plan on the evening of May 13. The company intends to acquire Rizhao Xingye Auto parts Co., Ltd. (referred to as "Xing" for short).Spinzaarcasino...
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[Yatong Seiko: plans to acquire 55% of Xingye auto parts to enrich commercial vehicle parts product types] Securities Times e, Yatong Seiko (603190) disclosed a major asset purchase plan on the evening of May 13. The company intends to use cash to acquire 55% of the shares of Rizhao Xingye Auto parts Co., Ltd. (referred to as "Xingye Auto parts"). Up to now, the audit and evaluation of Societe Generale auto parts have not been completed, and the transaction price has not yet been determined. The company's auto parts business mainly provides automobile stamping and welding parts for commercial vehicles and passenger vehicle factories. The company's commercial vehicle parts products are mainly used in the car body, and customers mainly include Sinotruk, BAIC Futian and other complete vehicle factories. Xingye Auto parts owner's business of commercial vehicle frame and body parts has been established with six major commercial vehicle manufacturers in China.SpinzaarcasinoA long-term and stable cooperative relationship has been established. Through this transaction, the company is expected to work closely with Societe Generale auto parts to further enhance its core competitiveness.