Summary by Moomoo AI
YADI HOLDINGS LIMITED ANNOUNCED THAT ON MARCH 17, 2024, ITS INDIRECT NON-WHOLLY OWNED SUBSIDIARY ENTERED INTO A SERIES OF PURCHASE AND SALE AGREEMENTS WITH THE SELLER TO ACQUIRE THE ENTIRE SHAREHOLDING OF WUXI LINGBO ELECTRONIC TECHNOLOGY CO., LTD. The total cost of the transaction is approximately RMB351.5 million and will be paid in cash and instalments, with the funds coming from within the Group and/or borrowing. The target company is primarily engaged in the R&D, production and sales of intelligent control system solutions and products, and provides technical solutions to a wide range of industries. Upon completion of the transaction, Wuxi Lingbo will become an indirect non-wholly owned subsidiary of Yadi Holdings and will consolidate its financial results. The acquisition will help Yadi Holdings strengthen its technical capabilities in the field of electronic control systems for electric two-wheelers and support its overseas expansion strategy.