Smartwin Electronics Technology: Plans to acquire 40% of Xintongda's shares for 94.05 million yuan

Smartwin Electronics Technology announced that the company will hold a board of directors and supervisory board meeting on April 24, 2025, to review and approve the proposal to acquire 40% of Jiangsu Xintongda Electronic Technology Co., Ltd. According to negotiations among the parties involved in the transaction, the company will use self-raised funds of 94.05 million yuan to acquire the 40% stake held by Xu Suozhang, Yao Weifang, Xu Yimeng, and Danyang Jingyizhicheng Technology Partnership. As of December 31, 2024, the total equity valuation of Xintongda is 277 million yuan. After the transaction is completed, Smartwin Electronics Technology will hold a 40% stake in Xintongda, while Xu Suozhang's shareholding ratio will decrease to 20.62%, and Yao Weifang and Danyang Jingyizhicheng will no longer hold shares. Xintongda is mainly engaged in the research and design, production, and sales of automotive electronics, with its main products being automotive instruments. This acquisition is beneficial for enhancing Smartwin Electronics Technology's overall competitive strength in the industry and aligns with the company's development strategy. The funding for the transaction comes from self-raised funds and will not adversely affect the company's ongoing operational capability and financial condition