en.Wedoany.com Reported - On June 12, China's Longcheer Technology announced that the industrial and commercial registration procedures for its acquisition of 60% equity in Kejuncheng Precision Technology (Dongguan) Co., Ltd. and Dongguan Jiya Metal Products Co., Ltd. have been fully completed, officially making the two target companies its controlled subsidiaries. The total transaction amount reached 540 million yuan.
The acquisition was initially approved by the company's board of directors on March 30 this year, after which both parties proceeded with the equity transfer process. Both companies have now obtained new business licenses issued by the Dongguan Market Supervision Administration, with their equity structures updated accordingly. Post-change, Longcheer Technology holds 60% of the shares in both Kejuncheng and Jiya Metal, while original shareholders Wu Yutao, Xiong Dao'an, and others retain partial equity, maintaining a stable cooperation structure.
It is reported that both Kejuncheng and Jiya Metal are based in Qingxi Town, Dongguan, primarily engaged in the R&D, production, and sales of precision metal products, electronic products, molds, and related components, as well as import and export business. The two companies' operations are highly complementary, capable of undertaking orders for structural and plastic parts related to consumer electronics and smart hardware, thus complementing Longcheer Technology's core business.
As a globally leading ODM manufacturer of smart products, Longcheer Technology focuses on the R&D and manufacturing of smartphones, AIPC, automotive electronics, and more. This acquisition will enhance the company's supporting capabilities in precision structural parts and metal components, improving the upstream and downstream supply chain layout. It will help control product quality, shorten supply cycles, reduce reliance on external procurement, and improve overall operational efficiency.
The announcement also noted that all parties involved must continue to fulfill subsequent obligations as per the agreement. This move is a key step for Longcheer Technology to strengthen vertical integration of its industrial chain. Leveraging the manufacturing capabilities of its two Dongguan subsidiaries, the company can further consolidate its competitive edge in consumer electronics and automotive electronics, providing solid supply chain support for the development of multi-category smart terminal businesses.
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