Core Viewpoint - The company Shengbang Co., Ltd. has signed a framework agreement to acquire 60% of Wuxi Woco Engine Noise Reduction Components Co., Ltd. from WOCO Group, marking a significant step towards enhancing its market position in the automotive sector [1][4]. Group 1: Acquisition Details - The acquisition will be executed through a cash transaction, and Wuxi Woco will become a subsidiary of Shengbang upon completion [1]. - The transaction does not constitute a related party transaction and is expected to be classified as a major asset restructuring under relevant regulations [4]. - The final terms of the acquisition will be determined in a formal agreement following further negotiations and due diligence [4][5]. Group 2: Financial and Operational Impact - WOCO Group reported a sales revenue of €590 million in 2024 and employs approximately 4,400 people, indicating a robust operational scale [5]. - The acquisition is anticipated to significantly enhance Shengbang's operational performance and profitability by integrating Wuxi Woco's product offerings, which complement Shengbang's existing automotive products [6]. - The collaboration is expected to create synergies through combined sales channels and customer bases, particularly enhancing engagement with European and American automotive clients [6].