Botai Auto Federation (02889) plans to spend 800 million yuan to acquire 20% of Seagull Sumikou (002084.SZ) shares

According to the Zhitong Finance App, Botai Auto Federation (02889) announced that on August 21, 2026, the company plans to acquire 20% of Guangzhou Seagull Housing Industry Co., Ltd. (002084.SZ) from Zhongyu Investment at a cost of 800 million yuan, equivalent to approximately RMB 6.19 per A-share. After the acquisition is completed, the company will hold 20% of the total issued share capital of the target company and will become the controlling shareholder of the target company.

According to reports, the target group is mainly engaged in R&D, manufacturing and service of all types of components such as high-end sanitary ware, ceramics, bathtubs, shower rooms, bathroom cabinets, overall cabinets, and tiles in prefabricated kitchen and bathroom spaces.

The directors believe that this transaction can provide the Group with the following opportunities and benefits: (i) “Soft and Hard Core Cloud” is an important strategic layout for the Group. This transaction will further expand the Group's capabilities in smart cars to smart homes and other related terminal scenarios, build a “car family integration” strategic layout and promote the long-term development of the Group; (ii) the Group will use relevant operation management experience and industrial resource advantages to help the target company to iteratively upgrade the target company's industry, enhance the target company's core competitiveness and promote the long-term and healthy development of the target company; (iii) This transaction can help the group achieve cross-sectional development The layout of the capital market enriches the Group's overall investor base.