Weifu High-Technology Group Co., Ltd. entered into an agreement to acquire 9.32% in Wuxi Auto-link World Information Technology Co.,Ltd. from Yang Hongze, Beijing Shun Hengda Automobile Electronics Co., Ltd., Lited Group Co., Ltd., Beijing Cherongtong Investment Management Co., Ltd. and Qin Zhi for CNY 38.5 million.
June 18, 2021
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Weifu High-Technology Group Co., Ltd. (SZSE:200581) entered into an agreement to acquire 9.32% in Wuxi Auto-link World Information Technology Co.,Ltd. from Yang Hongze, Beijing Shun Hengda Automobile Electronics Co., Ltd., Lited Group Co., Ltd., Beijing Cherongtong Investment Management Co., Ltd. and Qin Zhi for CNY 38.5 million on June 18, 2021. Upon completion, Yang Hongze will own 19.6%, Beijing Cherongtong will own 3.39%, Lited Group will own 1.36% and Qin Zzhi will own 1.13% stake in Wuxi Auto-link. The board of directors of Weifu High-Technology approved the acquisition.
Weifu High-Technology Group Co Ltd is a China-based company principally engaged in the research, development, manufacturing, and sales of automotive parts. The Company's main products include diesel fuel injection system products, exhaust after-treatment system products and air management system products. The Company also provides fuel cell components and balance of performance (BOP) components. The Company's products are mainly used in trucks, buses, construction machinery, ships, agricultural machinery, generator sets, passenger cars, commercial vehicles, off-road machinery, agricultural machinery and generator sets, among others. The Company distributes its products in domestic market and to overseas markets.
Weifu High-Technology Group Co., Ltd. entered into an agreement to acquire 9.32% in Wuxi Auto-link World Information Technology Co.,Ltd. from Yang Hongze, Beijing Shun Hengda Automobile Electronics Co., Ltd., Lited Group Co., Ltd., Beijing Cherongtong Investment Management Co., Ltd. and Qin Zhi for CNY 38.5 million.