ST Xingnong (603789.SH) intends to acquire 100% equity of Zhongcheng Automobile (Shandong) Co., Ltd.

China Fortune Financial News APP news, *ST Xingnong (603789.SH) announced that the company plans to acquire 100% equity of Zhongcheng Automotive (Shandong) Co., Ltd. (referred to as "Zhongcheng Automotive") held by Lu Mai Automobile Industry Co., Ltd. (referred to as "Lu Mai Automobile") with a transaction price of 29.414 million yuan. After the completion of this transaction, the company will hold 100% equity of Zhongcheng Automotive, which will become a wholly-owned subsidiary of the company and be included in the company's consolidated financial statements.