According to Zhitong Finance App News, Chongqing Electromechanical (02722) announced that on October 12, 2026, the company signed an equity transfer agreement with Silian Group (a wholly-owned subsidiary of the company's controlling shareholder). According to this, the company agreed to transfer and transfer 51% of the company's shares in the target company (Chongqing Cafu Auto Brake and Steering Systems Co., Ltd., a wholly-owned subsidiary of the company), at a sale price of RMB 897.916 million.
The target company is mainly engaged in R&D and production of commercial vehicle steering rod (joint) assemblies and thrust rod assemblies, passenger car suspension subframes and control arm assemblies, and structural parts for new energy battery boxes and energy storage equipment.
Since the target company's main business is auto parts manufacturing and service, the collaboration with the company's clean energy equipment and high-end intelligent equipment industries is poor, making it difficult to form support for upstream and downstream industries, and sales matters help focus on the company's main business and optimize the company's strategic layout. Therefore, after completing this sale, the target company is no longer included in the company's consolidated statements, which helps the company optimize its industrial layout, concentrate energy and resources, further develop its main business, and promote the company's core industry to become stronger and better.
Meanwhile, in the transportation equipment sector, Fourlink Group focuses on the three major business segments of “basic automotive components+automotive electronics+sensor control” and is committed to building a leading auto parts enterprise. The controlling interest of the target company held by the Silian Group can further deepen the integration of the target company with the customer and channel resources within the Group, form a synergetic scale effect in the industrial chain, bring better development opportunities to the target company, and enhance its market competitiveness and profitability.