Great Wall Motors acquires Wuxi Xindong Technology Co., Ltd. to strengthen its independent chip R&D capabilities

Great Wall Motors announced that its indirect wholly-owned subsidiary Nobo Technology intends to acquire 80% of the equity of Wuxi Xindong held by Wensheng Technology for 3.79 million yuan. After the transaction is completed, Great Wall Motors will achieve full control of Wuxi Xindong. Wuxi Xindong was established in November 2022 with a registered capital of 50 million yuan and focuses on the research and development of automotive-grade chips. Due to the large R&D and construction investment expenditures in the early stage, the company suffered a loss in 2024, with operating income of 62.07 million yuan and a net profit of -30.48 million yuan.