DEREN(SZ:002055) Zheng Quan Zhi Xing·2025-09-02 12:37Core Viewpoint - Derun Electronics (002055.SZ) plans to sell an 18% stake in its associate company, Liuzhou Shuangfei Automotive Electrical Parts Manufacturing Co., Ltd., to Tianjin Tongli for 135 million yuan, aiming to focus on its core connector business and optimize resource allocation [1][1]. Company Summary - The stake transfer will result in Derun Electronics no longer holding any equity in Liuzhou Shuangfei [1]. - Liuzhou Shuangfei specializes in automotive wiring harnesses, serving major domestic automotive manufacturers such as SAIC-GM-Wuling and Liuzhou Automobile [1]. - The automotive wiring harness industry is facing intense competition, with Liuzhou Shuangfei experiencing significant losses in the first half of the year due to challenges in expanding overseas markets and abnormal order fluctuations from a key domestic client [1]. Financial Impact - Liuzhou Shuangfei is under pressure from strong cost-cutting demands from clients, leading to substantial pricing pressures [1]. - The company faces difficulties in reducing procurement costs for bulk commodities, and fluctuations in import material costs due to volatile tariff policies have further strained its financial performance [1]. - As a result, Liuzhou Shuangfei is expected to report significant losses in the first half of the year compared to the same period last year, with no substantial improvement anticipated in the second half [1]. Strategic Focus - The transaction will help Derun Electronics to further concentrate on its core connector business, enhance its competitive edge, and optimize resource allocation [1]. - The funds raised from this transaction will be used to alleviate financial pressure and support ongoing investments in strategic business development [1].