JC Finance & Tax to acquire 51% stake in Wuxi Fuair

JC Finance & Tax Interconnect Holdings (SZSE:002530) announced its subsidiary, Jiangsu Fengdong Thermal Technology, will invest CNY 67,199,200 in Wuxi Fuair Metal Technology to acquire a 51% equity stake. The transaction, approved by the JC Finance & Tax board on June 6, 2025, will make Wuxi Fuair a holding subsidiary, integrated into the company's consolidated financial statements. The strategic move aims to enhance JC Finance & Tax's offerings in the heat treatment sector, supplementing its equipment manufacturing with precision casting of heat-resistant steel, a specialty of Wuxi Fuair. The company expects operational synergies and accelerated growth for Wuxi Fuair through Jiangsu Fengdong's expertise in management, lean manufacturing, and access to markets and capital. The transaction is subject to customary closing conditions.