Joyson Electronics to Acquire 12.42% Stake in Anhui Joyson Safety for 2.52 Billion Yuan

Stock News03-23

Joyson Electronics (600699.SH) announced its plan to purchase approximately 12.42% of equity in its subsidiary, Anhui Joyson Automotive Safety Systems Holdings Co., Ltd., from the Advanced Manufacturing Industry Investment Fund for a total consideration of 2.51566 billion yuan. Upon completion of the transaction, the company's stake in Anhui Joyson Safety will increase to 69.54%, while the Advanced Manufacturing Industry Investment Fund will no longer hold any shares in the subsidiary. The acquisition is intended to strengthen Joyson Electronics' control over and management efficiency of its automotive safety business. Additionally, as the profitability of the automotive safety segment continues to improve, the move is expected to enhance the company's overall earnings performance.

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