Boya Precision announced plans to acquire 100% equity in Hubei Haotian Boneng Electromechanical Technology for 16.5 million yuan using its own funds. After the deal, Haotian Boneng will become a wholly owned subsidiary. One of the counterparties, Li Wenxi, is the company’s controlling shareholder and holds a 50.36% stake in Haotian Boneng, while the other, Tan Zhibin, is the son of Li Wenxi’s sister, making this a related-party transaction. The acquisition will also passively create a 2 million yuan related-party loan dated September 3, 2024, with an annual interest rate of 4%, expected to be repaid within three months after closing. Haotian Boneng mainly engages in aluminum alloy die-casting technology R&D and product manufacturing and sales. It posted revenue of 4.453 million yuan and a net loss of 2.4773 million yuan in 2025, and a net loss of 613,500 yuan in the first four months of 2026, with net assets of 15.8424 million yuan as of end-April this year. Boya Precision said it will leverage the target’s strengths in lightweight material forming technology to enhance new product development and market expansion. Separately, the divorce lawsuit between the company’s actual controllers Li Wenxi and Cen Hong has been granted at first instance but does not yet involve share division. Both remain co-controllers, and there is uncertainty over control changes. Boya Precision’s stock has fallen 31.40% this year, giving it a market value of 1.973 billion yuan.
Xiangyang BOYA Precision Industrial Equipments Co. LtdAcquires loss-making related-party target for 16.5M yuan; also faces divorce lawsuit uncertainty.
Being acquired by Boya Precision for 16.5M yuan, becoming wholly owned subsidiary.