Feilo Acoustics to divest 20% stake in Shanghai Nisshin Instruments

Shanghai Feilo Acoustics Co., Ltd. announced its wholly-owned subsidiary, Shanghai Yidian Automotive Electronics System Co., Ltd., intends to publicly transfer its 20% equity stake in Shanghai Nisshin Instruments Co., Ltd. The initial listing price for this transfer is 10,363.154 million yuan, based on an asset valuation of 51,815.77 million yuan for Shanghai Nisshin Instruments as of April 30, 2025. This move aligns with the company's strategy to focus on core resources, revitalize assets, and enhance profitability. The transaction will be conducted through the Shanghai United Assets and Equity Exchange.

The board of directors approved the equity transfer and also passed a resolution to increase the projected daily related-party transactions for 2025. This increase includes an additional 43 million yuan in transactions with Shanghai Yidian Xinsen Technology Development Co., Ltd. for product sales and labor services, bringing the total projected related-party transactions to 115.3651 million yuan. These transactions are considered normal business operations and are expected to be conducted at fair market prices, without adverse effects on the company's financial standing or independence.