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FIYTA has publicly announced the signing of an equity acquisition intent agreement with Hanzhong Hanhang Electromechanical Co., Ltd. Under this agreement, FIYTA intends to acquire all or a substantial portion of the equity in Shaanxi Changkong Gear Co., Ltd. using cash. Notably, Hanhang Electromechanical is a subsidiary of China Aviation Industry Corporation Limited, which serves as the actual controller of FIYTA, making this transaction a related-party deal. Changkong Gear is renowned for its expertise in the research, development, design, production, and sales of precision gears and associated products. Should this acquisition materialize, it will undoubtedly bolster FIYTA's technical prowess and core competencies within the realm of precision technology.
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