Yangtze Optical Fibre And Cable Joint Stock (601869.SH) plans to increase its stake in Baosheng Marine Engineering Cable Co., Ltd. by 30% for 583 million yuan to achieve a controlling stake.

Yangtze Optical Fibre And Cable Joint Stock (601869.SH) announced that the company has won the bid for the public listing trading project of Baosheng Science And Technology Innovation on Beijing Property Exchange - the 30% equity of Baosheng (Yangzhou) Marine Engineering Cable Co., Ltd. The transaction amount for this deal is 583 million yuan. After the completion of this transaction, the company will hold a total of 60% of the equity of Baosheng (Yangzhou) Marine Engineering Cable Co. It is reported that marine cables and marine engineering are one of the main areas for the company's diversified strategic layout. The target company has complete manufacturing capacity for marine cables, technological research and development capabilities, and a customer base. By acquiring controlling stakes in the target company, the company can quickly access these resources. In addition, marine cable products are technically related to the company's existing cable products, allowing for technical complementarity and synergy in areas such as technological research and development, production, and manufacturing, enhancing overall technological capabilities and profitability.