Huaxiang Co., Ltd. announced that the company and Huayu Shanghai intend to jointly establish Huaxiang Sandman Automotive Systems Co., Ltd., with a registered capital of RMB 613 million. Huayu Shanghai invested 184 million yuan, accounting for 30% of the shares in the joint venture at the price of 100% of the shares held by Sandman and Shanxi; Huaxiang Co., Ltd. invested 429 million yuan in currency, accounting for 70% of the shares in the joint venture, and implemented a financial merger with the joint venture. The joint venture will promote the expansion of domestic and international supporting markets for auto parts products and related assemblies.

Huaxiang Co., Ltd. announced that the company and Huayu Shanghai intend to jointly establish Huaxiang Sandman Automotive Systems Co., Ltd., with a registered capital of RMB 613 million. Huayu Shanghai invested 184 million yuan, accounting for 30% of the shares in the joint venture at the price of 100% of the shares held by Sandman and Shanxi; Huaxiang Co., Ltd. invested 429 million yuan in currency, accounting for 70% of the shares in the joint venture, and implemented a financial merger with the joint venture. The joint venture will promote the expansion of domestic and international supporting markets for auto parts products and related assemblies.