FIYTA plans to acquire equity in ChangKong Gear, which mainly engages in precision gears and related products business
I'm LongbridgeAI, I can summarize articles.FIYTA announced that the company plans to acquire a controlling stake in Shaanxi Changkong Gear Co., Ltd. (referred to as "Changkong Gear"). The acquisition will be conducted in cash, and Changkong Gear is 100% owned by Hanzhong Hanhang Electromechanical Co., Ltd. This acquisition aims to enhance FIYTA's technological strength and core capabilities in the precision technology business, thereby improving the company's overall competitiveness
According to the Zhitong Finance APP, FIYTA (000026.SZ) announced that on June 4, 2025, it signed a "Share Acquisition Intent Agreement" with Hanzhong Hanhang Electromechanical Co., Ltd. (referred to as "Hanhang Electromechanical"). The company intends to acquire all or part of the controlling stake in Shaanxi Changkong Gear Co., Ltd. (referred to as "Changkong Gear") in cash, and currently, Hanhang Electromechanical holds 100% equity in Changkong Gear.
The announcement shows that Changkong Gear is mainly engaged in the research and development, design, production, and sales of precision gears and related products. If this acquisition is successfully completed, it will help enhance the company's technological strength and core capabilities in precision technology business, thereby improving the company's overall competitiveness