Yantai Zhenghai Magnetic Material (300224.SZ) announcement, the company held the second meeting of the fifth board of directors on October 11, 2024...
According to the Financial APP, Yantai Zhenghai Magnetic Material (300224.SZ) announced that on October 11, 2024, the company convened the twenty-first meeting of the fifth board of directors to review and approve the proposal on optimizing the operation and shrinking the business of its subsidiary, Shanghai Dajun Power Control Technology Co., Ltd. (referred to as 'Shanghai Dajun'). Due to the continuous losses in the new energy automotive electric motor drive system business operated by the subsidiary in recent years, which has had a significant negative impact on the overall operation of the company, the company plans to optimize and shrink the business.
This operation optimization and business contraction of the new energy automotive electric motor drive system business align with the company's global strategy and actual development situation, conducive to the company's focus on its main business, concentrate resources on developing core business, enhance core competitiveness; beneficial for the company to strengthen its sustainable operating capability, achieve high-quality healthy development.
