Ningbo Tuopu Group (601689.SH) plans to acquire 100% equity of Wuhu Changpeng.

Ningbo Tuopu Group (601689.SH) announced that the board of directors has authorized the management team of the company to negotiate the acquisition of Anhui Yuesu Automobile Industry Co., Ltd., Wuhu Qirui Technology Co., Ltd., and Anhui Yuanxiang Investment Management Partnership Enterprise (Limited Partnership), collectively holding 100% equity of Wuhu Changpeng Automobile Parts Co., Ltd. ("Wuhu Changpeng") with cash not exceeding RMB 330 million. This acquisition will further expand the company's market share and enhance its industry position. By leveraging the company's operational and management advantages as well as vertical integration capabilities within the industry chain, it aims to improve the profitability of the target companies and provide better QSTP services to customers.