Force the automotive lighting business, Huayu automotive intends to more than 1 billion 700 million purchase of 50% stake in Shanghai Koito

Yesterday (28) evening, Huayu automotive systems Limited by Share Ltd (hereinafter referred to as: Huayu automotive, Inc.) announcement, the company invested 1 billion 716 million 250 thousand yuan, the acquisition of Japan Koito, TOYOTA Tsusho together hold 50% stake in Shanghai Koito (hereinafter referred to as: the transaction or transaction).

Shanghai Koito automotive lamp Co., Ltd. was founded in 1989, is now a registered capital of 7 billion 400 million yen, Huayu automotive, Japan Koito, TOYOTA Tsusho currently holds the 50%, 45%, 5% of the equity joint venture is a subsidiary. The main business of Shanghai Koito automotive R & D and manufacturing of lighting system, the main customers for Volkswagen, SAIC, Changan group, FAW Volkswagen, SAIC Motor, Dongfeng Nissan, Dongfeng passenger car etc.. 1 2017 - July, Shanghai Koito unaudited consolidated statements, the total assets of 45 billion 173 million yuan, net assets attributable to the parent company of 1 billion 528 million yuan, operating income was 7 billion 32 million yuan, net profit attributable to the parent company for 293 million yuan.

The transaction is expected to be completed in the first half of 2018, when the Shanghai Koito will become a wholly-owned subsidiary of the company. Chinese domain car said, will help the company to achieve independent control of automotive lighting business and the independent development of the transaction, in line with the company's "zero level, neutral and internationalization" strategy is an important measure to speed up implementation of the company "13th Five-Year" development goals, clear and intelligent Internet business plate development path. After the completion of this transaction, the company will actively promote the automotive lighting business integration of internal resources, synergies, optimize cost structure, improve profitability, at the same time, the company will take the initiative to grasp the future network, automotive lighting products intelligent trend of development, accelerating technological innovation, accelerate the production and operation to improve the layout at home and abroad, to form the core intelligent lighting business competition ability of automobile, vehicle for customers to provide more quality products and services.

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