New Jin Gang plans to acquire controlling stake in Gaozhi Technology

Beijing Business Daily (Reporter Ma Huanhuan, Li Jiaxue) — On the evening of March 9, Xinjin Gang (300629) announced that the company is planning to acquire a controlling stake in Hunan Gaozhi Technology Co., Ltd. (hereinafter referred to as “Gaozhi Technology”). After the completion of this transaction, the company is expected to gain control of the target company.

The announcement states that this transaction does not constitute a related-party transaction and is not expected to be a major asset restructuring. On March 8, Xinjin Gang signed a “Letter of Intent to Acquire” with the controlling shareholder of Gaozhi Technology, Changsha Yijin Management Consulting Co., Ltd., and the actual controllers Zhang Yi and Zhang Rong. The company plans to acquire the controlling stake in Gaozhi Technology with cash.

It is reported that Gaozhi Technology mainly focuses on intelligent simulation information systems for special application fields, as well as the research, development, production, and sales of key components for aircraft, with the capability for overall aircraft design.

Xinjin Gang stated that after acquiring Gaozhi Technology, it will help the company’s industrial chain to be comprehensively upgraded. On one hand, the company will build deep integration of hardware and software to develop intelligent products and services, laying a solid foundation for creating a leading domestic platform for intelligent products and services in the special application field. On the other hand, the company will establish overall full-stack R&D, design, and manufacturing capabilities in two major areas: aircraft and anti-unmanned systems.