Deren plans to sell 18% equity in Liuzhou Shuangfei to focus on the development of its connector main business
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Deren announced plans to transfer its 18% equity stake in Liuzhou Shuangfei to Tianjin Tongli for 135 million yuan, and after the transaction, it will no longer hold any equity in Liuzhou Shuangfei. Liuzhou Shuangfei primarily engages in automotive wiring harnesses and faces issues such as intense market competition and fluctuations in customer orders, resulting in significant losses in the first half of the year. This equity transfer will help Deren focus on its core business of connectors, optimize resource allocation, and alleviate financial pressure
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