Huayu will bid for more of SAIC's by-wire chassis electronics unit at a 320m yuan floor

Huayu Automotive Systems disclosed that its wholly owned subsidiary Shanghai Huizhong Automotive Manufacturing would bid through a public listing transfer at the Shanghai United Assets and Equity Exchange for the 10.9569 percent of Lianchuang Automotive Electronics held by the National Green Development Fund.

The floor price is 320,250,547.03 yuan, and the stake has been listed since September 15. If the bid succeeds, Huizhong’s holding rises from 5.2958 percent to 16.2527 percent. Huayu’s board approved the bid on September 30 by six votes to none, with three directors recused. The transaction is a related-party deal, because Lianchuang is 75.37 percent controlled indirectly by SAIC Motor, but it falls within the board’s authority, does not require a shareholder vote and does not change the consolidation scope.

Lianchuang’s products are listed in the filing as intelligent steering control, intelligent braking control and intelligent suspension control systems, a central motion coordination controller, and intelligent-driving and connected products. Its registered business scope names automotive by-wire chassis systems. Customers named include SAIC-GM-Wuling, IM Motors, BYD, Seres, Great Wall, Chery, SAIC Volkswagen and SAIC Maxus.

A valuation by Beijing Huaya Zhengxin, using the income approach against a base date of December 31, 2025, put total shareholders’ equity at 2.92 billion yuan against a net-asset book value of 201.7 million yuan. Lianchuang reported revenue of 2.01 billion yuan and a net loss attributable to the parent of 99.8 million yuan for 2025, and revenue of 1.30 billion yuan with a 23.9 million yuan loss for the first half of 2026.

The final price is set by competitive bidding and remains undetermined. The filing’s own risk notice says the outcome is uncertain.