Core Viewpoint - Tianyouwei plans to acquire 100% of Krämer Automotive Systems GmbH for €1 million, aiming to enhance its presence in the European high-end passenger car market despite Krämer's financial difficulties [1][4]. Group 1: Acquisition Details - The acquisition is intended to align with Tianyouwei's international development strategy and improve its competitiveness in the European market [4][8]. - Krämer, established in 1974, specializes in automotive electronic systems and has previously worked with high-end brands like Porsche and Mercedes [4][5]. - Krämer is currently in financial distress, having filed for bankruptcy due to a lack of significant orders, with a reported net asset value of -653.42 million yuan as of June 30, 2025 [5][6]. Group 2: Financial Assessment - Krämer's total assets are projected to be 12.04 million yuan in 2024, with a net asset value of -468.73 million yuan [5]. - The valuation of Krämer indicates a shareholder equity value of 857 million yuan, representing a 231.16% increase compared to its negative net asset value [6]. Group 3: Strategic Implications - The acquisition is expected to provide Tianyouwei with valuable customer relationships and sales channels, particularly with high-end automotive manufacturers [8]. - Tianyouwei's existing business focuses on automotive instrumentation and is expanding into automotive cabins, with major clients including Hyundai and BYD [9]. - The company aims to enhance its global market share and is establishing subsidiaries and production bases in Mexico and Korea to better serve international clients [9].
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