Luxshare Precision continues to expand in the automotive field

In recent years, Luxshare Precision has continuously increased its stake in the automotive sector in addition to consumer electronics businesses such as mobile phones. For example, in 2008, Luxshare Precision entered the automotive wiring harness industry as a Tier 2. In 2012, Luxshare Precision acquired a 55% stake in Fujian Yuan Optoelectronics for RMB 98 million. The company mainly manufactures automotive electronic devices and components. Two years later, Luxshare Precision acquired Germany's SUK Kunststofftechnik and entered the automotive accessories field. In 2018, Luxshare Precision's major shareholder acquired the German ZF Body Control Division, and the company took this opportunity to enter the field of smart cars. In September 2023, it announced that it had completed the acquisition of 50.1% of the shares of LEONI AG, a well-known German automotive wiring harness manufacturer, and 100% of the shares of its wholly-owned subsidiary Leoni Kabel, with a total consideration of 525 million euros (approximately RMB 4.1 billion). In addition, the company has also reached in-depth cooperation with upstream and downstream companies in the industrial chain such as GAC, Chery, and Sagitar.