China New Aviation spends over 1.1 billion to acquire Suoao Sensor

Zhongxin Aviation recently announced that it will acquire 87.6204 million shares of Suao Sensor for approximately RMB 511 million, and subscribe for no more than 119.48 million new shares, with a maximum subscription amount of RMB 673 million. After the transaction is completed, Zhongxin Aviation will hold approximately 22.61% of Suao Sensor's shares and become its actual controller. This move is aimed at strengthening Zhongxin Aviation's industrial chain layout in the field of automotive parts electronics and enhancing its competitiveness in the global market.