Changchun FAWAY Group Automobile Components (600742.SH) subsidiary plans to acquire 100% equity of Faway Adient Metal Parts for 318 million yuan.

Changchun FAWAY Group Automobile Components (600742.SH) announced that its controlling subsidiary, Changchun Faway Adient Automotive Trim Systems Co., Ltd. ("Faway Adient"), plans to acquire a 50% equity interest each held by the company and Adient Asia in Changchun Faway Adient Automotive Metal Parts Co., Ltd. ("Faway Adient Metal Parts"), for a total transaction amount of 318 million yuan. Upon completion of the transaction, Faway Adient Metal Parts will become a wholly-owned subsidiary of Faway Adient and a controlled grandchild company within the scope of the company's consolidated financial statements. It is reported that the target company of this transaction is the company's only dedicated R&D and production resource for seat frames internally, with independent capabilities in frame design, precision manufacturing, and quality inspection. Upon completion of the acquisition, the company will achieve comprehensive integration of technology, business, and strategy in the seating sector, building a complete industrial closed loop of "core frame component R&D and production + seat assembly and delivery."