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On December 26, Zhongshan United Optoelectronics Technology Co., Ltd. revealed that significant strides have been made in the related-party transaction concerning the sale of millimeter-wave radar-related business assets. These assets were transferred from its majority-owned subsidiary, Zhongshan United Automotive Technology Co., Ltd., to Guangdong Millimeter Automotive Technology Co., Ltd. As of the announcement date, all delivery procedures have been finalized, with the exception of the pending formalities required for altering the supplier code entity. United Automotive has successfully collected the initial two installments of the transfer payment, amounting to a cumulative 20 million yuan. The outstanding balance of 10 million yuan is slated for payment within a 12-month timeframe following the agreement's signing.
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