SONGZ: Plans to acquire 50% equity in Jinlong Air Conditioning for 95.2 million yuan

SONGZ announced that the company plans to use its own funds of 95.2 million yuan to purchase 50% of the equity of Xiamen Golden Dragon Bus Air Conditioning Co., Ltd. from Yongrun Trading. Golden Dragon Air Conditioning specializes in the research, development, production, and sales of thermal management-related products for large and medium-sized buses, and is the standard supplier of thermal management-related products for Xiamen Golden Dragon United Automotive Industry Co., Ltd. After the completion of this equity purchase, the company will hold 50% of the equity of Golden Dragon Air Conditioning, which is beneficial for the company to establish a more solid cooperative relationship with core strategic customers and further consolidate and enhance the company's position and market competitiveness in the thermal management industry for large and medium-sized buses