Zhitong Financial App, 300507.SZ announced that the company recently signed a "Memorandum of understanding" with Han Ang Systems Co., Ltd., a listed company in South Korea, and the two sides reached a preliminary intention on the company's intention to acquire a 37.5% stake in Wuhu Bonell Automotive Electrical Systems Co., Ltd. Held by Hanang. The price of this transfer shall be calculated on the basis of the 100% equity valuation of the underlying company at 450 million yuan. According to the following conditions, the company undertakes to purchase the 37.5% stake in Bonaire held by Hanang at a price of 169 million yuan and agrees to complete the transaction by further signing the final equity transfer agreement ("ETA") in the future.

In recent years, with the rapid development of the automobile industry, especially the gradual growth of the new energy vehicle market, it has brought the explosive growth of automobile thermal management demand. According to the market research report, with the upgrading of thermal management system and the continuous increase of new energy vehicle penetration, it is estimated that the domestic new energy vehicle thermal management market space will reach 52.1 billion yuan in 2025. Bonnell is mainly engaged in the development, design, production and sales of automotive air conditioning systems and engine thermal management systems and their components, including heat exchangers, HVAC assemblies and other thermal management system components. Customers cover many high-quality mainframe manufacturers and parts suppliers.

According to the memorandum, the company intends to acquire the 37.5% stake in Bonaire held by Hanang, which will support the company's layout in the automotive thermal management system market, help the company cut into the automotive air-conditioning system and the automotive thermal management industry track, provide support for the company's ability to extend the industrial chain, and expand the company's market share in the auto parts segment industry. It will play a positive role in the sustainable development of the company's operating business.