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Huayu Automotive Systems has officially declared that its wholly-owned entity, Shanghai Huizhong, is set to acquire a 10.9569% equity interest in Lianchuang Automotive Electronics Co., Ltd. This stake, currently held by the National Green Development Fund, will be up for grabs through a public auction conducted on the Shanghai United Assets and Equity Exchange. The initial bidding price for this acquisition is set at RMB 320 million. Upon completion of the transaction, Shanghai Huizhong's ownership stake in Lianchuang Electronics will surge to 16.25%. Given that Lianchuang Electronics is indirectly under the control of SAIC Motor—the principal shareholder of Huayu Automotive Systems—this deal is classified as a related-party transaction, adhering to regulatory standards and transparency requirements.
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