Chengdu Haoneng Technology Plans Joint Venture to Strengthen New Energy Vehicle Components Business
Stock News
Yesterday
Chengdu Haoneng Technology Co.,Ltd. (ASX: 603809) has announced a plan to deepen its presence in the new energy vehicle components sector by establishing a joint venture.
The company intends to sign a joint venture contract with FAW Qixin Power (Changchun) Technology Co., Ltd. to jointly invest 70 million yuan in setting up Zhuoyi Precision Technology (Luzhou) Co., Ltd.
Under the agreement, Chengdu Haoneng Technology will contribute 23.1 million yuan in cash for a 33% stake, while FAW Qixin Power will contribute 46.9 million yuan in cash for a 67% stake.
The move aims to promote synergies of advantageous resources and expand sales channels for automotive components such as coaxial reducers.
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