Reported about 1 year ago
Fusheng, a leading golf club head manufacturing company, announced on July 5, 2024, that its board of directors has decided to acquire Shenzhen Linye Precision Industry Company and Jiangsu Linye Precision Technology Company through its wholly-owned subsidiary Zhongshan Guangsheng Sports Equipment Company, with an estimated amount of around 700 million yuan. This acquisition is expected to secure 76% to 79% of Linye's equity and is set to be completed in the third quarter of this year. The acquisition is aimed at expanding Fusheng Group's automotive component business and improving operational efficiency, with potential benefits to net asset value and earnings per share if successful.
Source: YAHOO