Wutong Holding acquires remaining stake in Smart Electronics

Wutong Holding Group (SZSE:300292) announced it will acquire the remaining 20% equity stake in its holding subsidiary, Suzhou Wutong Smart Electronics, for CNY 84 million. This acquisition will give Wutong Holding 100% ownership of Smart Electronics, bolstering its position in the intelligent manufacturing sector. The agreement includes performance guarantees for Smart Electronics, with stakeholders committing 30% of the deal proceeds towards purchasing Wutong Holding shares, locked in for 12-36 months. The acquisition has been approved by Wutong Holding's board and is not subject to shareholder approval, nor does it constitute a major asset restructuring. Smart Electronics has seen consistent profits, with a net profit of CNY 26.8 million in 2024. The acquisition will be funded from the company's own capital.