Core Viewpoint - Shanghai Feilo Acoustics Co., Ltd. announced the transfer of a 20% stake in its joint venture, Shanghai Rijing Instrument Co., Ltd., through a public listing, with a starting price of 103.63154 million yuan. This move aims to help the company focus on its core business and optimize its asset structure [2]. Company Overview - Shanghai Rijing Instrument Co., Ltd. was established in 1995 with a registered capital of 10 million USD, primarily engaged in the development and production of electronic remote controls and accessories for motorcycles and automobiles, as well as the import and export of related products. The current shareholders are Hong Kong Yichu Rijing Co., Ltd. (80% stake) and Shanghai Yidian Automotive Electronics System Co., Ltd. (20% stake) [4]. - As of April 2025, Shanghai Rijing's total assets amounted to 638 million yuan, with net assets of 439 million yuan. From January to April, the company achieved a revenue of 120 million yuan and a net profit of 5.09 million yuan [4]. Subsidiary Information - Shanghai Yidian, established in 2015, serves as the operating entity for Feilo Acoustics' automotive electronics business, focusing on automotive lighting, automotive electronic systems, and home appliance and automotive wiring harnesses [4]. - The automotive lighting business primarily offers micro vehicle LED modules, while the automotive electronic systems focus on power distribution systems, body electronics, and air conditioning systems. The wiring harness business provides sunroof and transmission harnesses [4]. Clientele - Shanghai Yidian's automotive electronics business serves major clients including BYD, Volkswagen, Geely, Nissan, SAIC, Chery, and GAC Aion, indicating a strong presence in both domestic and international automotive markets [5].

Core Viewpoint - The company Feilo Acoustics announced the intention to transfer a 20% stake in Shanghai Rijing Instrument Co., Ltd. through a public listing, with a starting price of 103.63 million yuan, aiming to focus on core business and enhance profitability [2][3]. Group 1: Transaction Details - The stake transfer will be conducted via the Shanghai United Assets and Equity Exchange, and the final transaction price will be determined by the last bidding price, with a risk of no bids being placed [3]. - The transfer has been approved by the company's board of directors and does not require shareholder approval as it does not meet the threshold for such a review [3]. Group 2: Financial Performance of Shanghai Rijing - Shanghai Rijing's projected revenue for 2024 is 311.38 million yuan, with a net loss of 44.43 million yuan [3]. - For the first four months of 2025, the revenue is reported at 119.80 million yuan, with a net profit of 5.09 million yuan [3]. Group 3: Impact on Feilo Acoustics - Following the completion of the stake transfer, Feilo Acoustics will no longer hold any equity in Shanghai Rijing [3]. - The company stated that the transfer will not significantly impact its operations or business development, and there are no concerns regarding the interests of the company or minority shareholders [3].