LY iTECH plans to acquire 96.15% equity of Zhejiang Xianglong for 2.404 billion yuan to accelerate the deepening of its automotive industry layout
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LY iTECH's wholly-owned subsidiary LY Technology will acquire 96.15% of Zhejiang Xianglong's equity for 2.404 billion yuan, aiming to accelerate the deepening of its automotive industry layout. Zhejiang Xianglong focuses on the research and development and manufacturing of automotive components, with clients including well-known domestic and international automotive companies. This transaction will optimize the company's product matrix, enrich its revenue structure, and support the development of automotive electrification and intelligence
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