Bohai Auto Announces Major Asset Restructuring Plan Approved

Bohai Automotive Systems Co., Ltd. recently announced that its major asset restructuring plan has been approved by the Beijing State-owned Assets Supervision and Administration Commission. The plan involves acquiring several equity interests in Beijing Hainachuan Automotive Parts Co., Ltd. through a combination of stock issuance and cash payments, including a 51% stake in Beijing BAIC Mould & Plastic Technology Co., Ltd., a 51% stake in Hainachuan Adient (Langfang) Seat Co., Ltd., a 100% stake in Inalfa Intelligent Connected Technology (Beijing) Co., Ltd., and a 50% stake in Langfang Leoni Wiring Systems Co., Ltd. However, the restructuring plan still requires review by Bohai Automotive's shareholders' meeting and approval by relevant regulatory authorities, raising additional funds. Therefore, its final implementation remains uncertain.