Wutong Holding Group (300292.SZ) plans to acquire the remaining 20% stake in Wutong Smart Electronics for 84 million yuan.

Wutong Holding Group (300292.SZ) announced that the company plans to acquire 20% equity of Suzhou Wutong Intelligent Electronic Co., Ltd., held by Pei Zhonghui, for a cash consideration of 84 million RMB. After the completion of this transaction, the company will hold 100% of the equity of Wutong Intelligent Electronic. The announcement shows that the target company is mainly engaged in electronic manufacturing services, including manufacturing and testing of electronic systems and components, supply chain management, customized research and development, engineering technical support, and overall solutions. The target company's main products are various electronic control systems that can be applied in the fields of automotive, medical, communication, industrial control, consumer electronics, and precision optoelectronics. After the completion of the transaction, the target company will become a wholly-owned subsidiary of the company, further enhancing the company's control over the target company, which will help the listed company improve decision-making efficiency, reduce management costs and risks, and facilitate future expansion of resource allocation.