Zhongyan Technology to Acquire 60% Stake in Xinhuanyu, Expanding into PCB Drill Needle and Cutting Tool Sector

Stock News
Sep 27

Zhongyan Technology Co.,Ltd. (003001.SZ) has announced that its board of directors has approved a proposal to sign equity acquisition agreements. The company plans to acquire a 60% stake in Shenzhen Xinhuanyu Precision Technology Co., Ltd. (referred to as "Xinhuanyu") through equity acquisition and capital injection.

The counterparties in the transaction include Li Kunlun, Shenzhen Weijing Investment Partnership (Limited Partnership), and Ji'an Luling Industrial Development Fund Partnership (Limited Partnership). Upon completion of the transaction, the target company will become a controlled subsidiary of Zhongyan Technology and will be included in the company's consolidated financial statements.

The company stated that the PCB drill needle and cutting tool industry, where the target company operates, has promising development prospects and significant growth potential. Zhongyan Technology intends to make a strategic layout in this field to seek new performance growth drivers and promote the company's sustainable future development.

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