Brief News: UBTECH ROBOTICS acquires 43% equity in A-share listed company Fenglong Electric

Robot manufacturer UBTECH ROBOTICS plans to acquire a 43% stake in Zhejiang Fenglong Electric for a total consideration of approximately 1.665 billion yuan. The transaction will be conducted in two phases, and upon completion, Fenglong Electric will become UBTECH's first A-share listed subsidiary, with its financial performance consolidated into UBTECH's accounts. The board of directors of Fenglong Electric will be restructured, with UBTECH appointing six directors. The acquisition will help UBTECH strengthen supply chain integration, cost control, and mass production capabilities. Fenglong Electric's stock price rose by 10.01% after resuming trading