Yuhuan CNC: 10 million yuan acquisition of 33.33% equity of Southern Machine Tool

Jinshi data news on October 9th, Yuhuan CNC announced that the company held a board of directors on October 9, 2024, and approved the acquisition of 33.33% equity of Hunan Nanfang Machine Tool Co., Ltd. with 10 million yuan of its own funds. After the completion of this transaction, Yuhuan CNC will become the largest shareholder of Nanfang Machine Tool, and Nanfang Machine Tool will be included in the company’s consolidated financial statements. This transaction does not constitute a related party transaction, nor does it constitute a major asset restructuring. It has been approved by the board of directors and does not need to be submitted to the shareholders’ meeting for approval. Through this acquisition, Yuhuan CNC will expand its CNC machine tool business, enhance product variety, and market competitiveness.