Zhejiang Meili High Technology (300611.SZ) plans to acquire 10.1% of the shares of Beijing Dayuan and Jiangsu Dayuan respectively.

Zhejiang Meili High Technology (300611.SZ) announced that the company plans to use its own funds of 15 million yuan to acquire 10.1% shares of Beijing Meili Dayuan Spring Co., Ltd. ("Beijing Dayuan") and Jiangsu Meili Dayuan Spring Co., Ltd. ("Jiangsu Dayuan") held by Dayuan Steel Co., Ltd. ("Dayuan Steel"). After the completion of this related transaction, the company will hold 80.1% of the shares of Beijing Dayuan and Jiangsu Dayuan respectively, which will help improve the decision-making efficiency of the company towards its subsidiaries.