Gelonghui November 5 | Suzhou Jin Hong Shun Auto Parts (603922.SH) announced that the company plans to purchase 95.79% equity of Xin Sikao held by Cai Rongjun, He Zhengshiye, Cai Zhenpeng, Changxin Investment, Jingkai Tongchuang, Yitang Huachuang, Zhongjin Qichen, Jiaxing Huaxing, Qingchuang Bole Tashan, Huzhou Huirui, Longhua Huiboyuan, Unicom Zhongjin, Qingchuang Bole Jiuyi, Huarui Jiayin, Huarui Shengyin, Zhejiang Stock Excellent Enterprise, Huixin Digital Intelligence, Sanjiang Huawen, Chuangxiang Wenhuachang, Jiarui No.1, Jiarui Future Star, and Huixin Eleven jointly by issuing shares and paying cash. At the same time, the listed company will issue shares to raise matching funds from up to 35 specific investors.
As of the date of the summary signing of this proposal, the audit, evaluation, and due diligence work related to this transaction have not been completed, and the transaction price of the target assets has not been finally determined.
Xin Sikao is a high-tech enterprise specializing in the research, development, production, and sales of micro-drive motors. The company's predecessor, Japan Sikao, was established in 1976 and has been focusing on the field of micro-drive motors for over 40 years. Japan Sikao invented the world's first mobile phone voice coil motor in 1994, and is one of the earliest companies in the world engaged in the research and development of voice coil motors. Xin Sikao fully absorbs advanced technology and manufacturing capabilities from Japan Sikao, gradually forming its own advantages in material performance improvement, production processes, product quality, brand image, etc., successfully replacing Japanese and Korean suppliers in the high-end market of camera motors, becoming the core supplier of camera motors for mainstream domestic smart phone brands, and maintaining a leading position in the market in terms of high-end product shipments and comprehensive strength in the industry.
This transaction will accelerate the listed company's transformation from a traditional auto parts enterprise to electric and intelligent directions, enter the micro-drive motor industry, open up a 'second growth curve,' accelerate the development of new quality productivity, and effectively improve the quality of the listed company.
Following the application to the Shanghai Stock Exchange, the company's stocks will resume trading from Wednesday, November 6, 2024.