Strengthening the Industry Chain Layout: Longsys Successfully Acquires a 70% Equity Stake in Longforce
SHENZHEN, China, Oct. 13, 2023 /PRNewswire/ -- On October 1, Shenzhen Longsys Electronics Co., Ltd.(301308.SZ) (hereinafter referred to as "Longsys") acquired a 70% equity stake in Powertech Technology (Suzhou) Limited.
- SHENZHEN, China, Oct. 13, 2023 /PRNewswire/ -- On October 1, Shenzhen Longsys Electronics Co., Ltd.(301308.SZ) (hereinafter referred to as "Longsys") acquired a 70% equity stake in Powertech Technology (Suzhou) Limited.
- The transaction has been officially completed and will be included in the consolidated statements of Longsys from now on.
- Powertech Technology (Suzhou) Limited has been rebranded as Longforce (Suzhou) Limited (hereinafter referred to as "Longforce"), and will be directly controlled by Longsys Electronics (Suzhou) Co., Ltd., a new wholly-owned subsidiary of Longsys.
- Powertech Technology Inc. (PTI) and its affiliated companies remain dedicated to providing unwavering support, as per the service agreement signed, to ensure the continued operation of Longforce.