Jingfeng Mingyuan (688368.SH) plans to acquire the remaining 19.19% shares of the holding subsidiary Ling Ou Chuangxin for 143 million yuan

Zhitong Finance App News, Jingfeng Mingyuan (688368.SH) announced that the company plans to acquire 19.19% of the shares of the holding subsidiary Nanjing Lingou Chuangxin Electronics Co., Ltd. (“Lingou Chuangxin” for short) with its own capital of 143 million yuan. After the transaction is completed, the company will hold 100% of Ling Ou Chuangxin's shares.

By further increasing control over Ling Ou Chuangxin in October 2024, the synergy between the two sides was further highlighted, and technology iterated and successfully entered the market in related product fields such as high-speed hair dryers, power tools, and cleaning appliances. In 2024, Ling Ou Chuangxin achieved sales revenue of 298 million yuan, up 69.32% year on year, and realized net profit attributable to owners of the parent company of 97 million yuan, up 83.37% year on year. The company's motor control drive product line achieved sales revenue of 318 million yuan in 2024, an increase of 95.67% year on year.

The acquisition of the remaining shares of Ling Ou Chuangxin will further integrate and optimize the resource allocation of both parties, improve the company's motor control and drive solutions, improve the company's overall operating efficiency, give full play to the company's synergy with Ling Ou Chuangxin in terms of products, technology, R&D, etc., and enhance the company's overall profitability. In terms of personnel arrangements, in order to ensure the continued stable operation of Ling Ou Chuangxin, the company and Ling Ou Chuangxin's core team members Li Peng, Deng Ting, and Zhang Weilong agreed that the target company's service period will not be shorter than 36 months (calculated from the date the agreement was signed), and this transaction will not affect the stability of the core team.