Hengbo Group (301225.SZ) plans to indirectly invest in Kaizheng Motors to develop new growth points.

Zhitan Finance and Economics APP news: Hengbo Co., Ltd. (301225.SZ) announced that the company plans to establish a joint venture with Anhui Kaizheng Entrepreneurship Investment Partnership Enterprise (Limited Partnership) ("Kaizheng Partnership") called Jiangsu Hengbo Kaizheng Automotive Electronics Co., Ltd. ("Jiangsu Hengbo Kaizheng"). Hengbo Co., Ltd. will subscribe for a capital contribution of RMB 10.2 million with its own funds, accounting for 51% of the registered capital of Jiangsu Hengbo Kaizheng, while Kaizheng Partnership will subscribe for a capital contribution of RMB 9.8 million with its own funds, accounting for 49% of the registered capital of Jiangsu Hengbo Kaizheng. After the establishment of Jiangsu Hengbo Kaizheng, it plans to acquire 100% equity of Anhui Kaizheng Automobile Electronics Co., Ltd. ("Kaizheng Automobile") held by Shi Enqi, Guangdong Minhong New Materials Technology Co., Ltd. ("Guangdong Minhong"), and Fang Yong in cash. After the transaction is completed, Jiangsu Hengbo Kaizheng and Kaizheng Automobile will both be included in the consolidated financial statements of Hengbo Co., Ltd.