Luxshare Precision plans to acquire global automotive wiring harness giant Leonie AG

Chinese electronics manufacturer Luxshare Precision announced plans to purchase equity in global automotive wiring harness giant Leoni AG and its wholly-owned subsidiary Leoni K. The total price of the transaction is approximately 525 million euros, or approximately RMB 4.1 billion. If completed, this will triple Luxshare Precision's revenue from automotive Internet products and precision components to approximately 13% of revenue.