Xueqi Electric: Intends to acquire 65% equity of Shengbang Electric for 47.45 million yuan and increase capital by 12.1667 million yuan.

announcement by Xueqi Electrical: the company plans to acquire 65% equity of Hefei Shengbang Electric Appliance Co., Ltd. for 47.45 million yuan, and to subscribe for 12.1667 million yuan of Shengbang Electric's 41.667 million yuan newly increased registered capital. After the completion of the transaction, Xueqi Electric will hold 70% equity of Shengbang Electric. This transaction aims to promote Xueqi Electric's extension and expansion to the upstream of the industry chain, achieve coordination between upstream and downstream, improve the stability and reliability of components, reduce operational risks, lower procurement costs, and enhance profitability.