Tianchuang Fashion announced plans to use 220 million yuan of its own funds to acquire a total of 24.4444 percent equity in Anhui Xunwei Precision Industrial Company Limited from related parties, while also injecting an additional 180 million yuan into Xunwei Precision. After the transaction, its shareholding will reach 37.0370 percent and it will appoint a director. Xunwei Precision focuses on the research, development, manufacturing, and sales of ball screw products, which are used in key areas such as automotive steering, braking, and parking systems. Prior to this transaction, the company was mainly engaged in the fashion footwear and apparel business. Through this acquisition, it will enter the new track of the leadscrew industry, forming a second growth curve.
Topscore FashionTianchuang Fashion is acquiring and injecting capital into Xunwei Precision, entering a new industry.
Xunwei Precision receives capital injection and becomes part of a listed company.