ZYST: Plans to acquire no less than 51% of the shares of Yingzhong Electric

36Kr learned that ZYST announced that on February 26, the company signed a Letter of Intent with Yingzhong Electric shareholders Yu Yingzhong, Zhu Lijuan, and Yu Biao to acquire no less than 51% of the shares of Yingzhong Electric in cash and obtain control of Yingzhong Electric. Upon completion of this transaction, Yingzhong Electric will become a controlled subsidiary of the company and will be included in the company's consolidated financial statements. The target company is a professional supplier of insulating fiber materials and their molded products, with products covering all voltage levels of power transmission and transformation equipment, including medium and low voltage, high voltage, ultra-high voltage, and extra-high voltage AC and DC