Group 1 - Chengdu Shengbang Sealing Components Co., Ltd. (referred to as "Shengbang Co., 301233") signed a framework agreement to acquire 60% equity of Wuxi Woco Engine Noise Reduction Components Co., Ltd. (referred to as "Wuxi Woco") from WOCO F.J. Wolf Holding GmbH (referred to as "WOCO Group") for cash, which may constitute a significant asset restructuring [1] - The acquisition is expected to significantly enhance Shengbang Co.'s operating performance and sustainable profitability, creating a win-win situation through "product complementarity + market synergy" [1] - Wuxi Woco's business covers traditional internal combustion engine vehicles and new energy vehicles, including automotive interior and exterior rubber and plastic products, engines, and electric drive motor components, with projected revenues of 539 million yuan and 533 million yuan for 2023 and 2024, respectively [1] Group 2 - WOCO Group is a global family-owned enterprise headquartered in Germany, with production facilities in Europe, North America, and Asia, achieving sales of 590 million euros in 2024 and employing approximately 4,400 people [2] - The overall valuation of Wuxi Woco is set at 430 million yuan, and post-acquisition, it will become a Sino-foreign joint venture with independent legal status under Chinese law [2] - Shengbang Co. specializes in the research and application of rubber polymer materials, with revenues and net profits of 328 million yuan and 67.71 million yuan, respectively, for the first three quarters of 2025, showing year-on-year growth [2] Group 3 - The products of Shengbang Co. and Wuxi Woco are complementary in the automotive sector, with Shengbang Co.'s products used in engines, transmissions, and electric vehicle battery packs, while Wuxi Woco focuses on interior and exterior components and electric drive systems [3] - The customer bases of both companies differ, with Wuxi Woco having a higher proportion of European and American OEM clients, while Shengbang Co. has a solid market foundation among domestic mainstream brands [3] - The acquisition is expected to enhance customer engagement and operational performance for both companies, leveraging each other's sales channels and product strengths, while also providing Shengbang Co. with opportunities to expand into international markets [3]