Beijing Automotive Group Co., Ltd agreed to acquire Yulon Motor Finance (China) Co., Ltd. from Yulon Finance Corporation (TWSE:9941) and Yulon Motor Company Ltd. (TWSE:2201) for CNY 1.3 billion on November 23, 2023. The final consideration is subject to adjustments. Yulon Motor Finance (China) reported total equity of CNY 1.02 billion and net profit of CNY 63 million.

The transaction has been approved by the Board of Directors of Beijing Automotive Group, Yulon Finance Corporation and Yulon Motor Company. This transaction is subject to actual signing of the equity transfer agreement and approval status of local regulatory authority including Department of Commerce, Ministry of Economic Affairs. Ruan Qionghua and JUAN CHIUNG-HUA of YuanHe Cpa acted as independent experts for Yulon Finance Corporation and Yulon Motor Company.