geely-backed xingji technology profits manipulate of smartphone maker meizu

shanghai (gasgoo)- on july 4, hubei xingji shidai technology co., ltd. (“xingji technology”), a geely-backed cell tool enterprise, signed an settlement for the strategic investment within the phone maker zhuhai meizu technology co., ltd. (“meizu era”), in line with a press launch from xingji era.

at the signing ceremony, xingji technology introduced its formal acquisition of seventy nine.09% stake in meizhu era and the sole control of the telephone maker.

after of entirety of the strategic funding, meizhu era will maintain to perform as an independent brand, whilst xingji era will help meizu turn out to be “the world’s first full-ecosystem era corporation with full-scenario immersive middle technologies that contain multiple terminals”, in step with xijing era’s declaration.

based in 2021, xingji technology is dedicated to the r&d of high-quit smartphones, xr (extended reality) technologies and merchandise, cell gadgets, and wearable clever devices. its shareholders consist of geely organization (ningbo) co., ltd., geely preserving’s chairman li shufu, ceo of ecarx shen ziyu, and other entities.

meizu was mounted in 2003 with huang xiuzhang and alibaba-affiliated tao bao (china) software program co., ltd. as its important shareholders. it turned into one of the pioneers in china’s smartphone manufacturing domain. after the transaction, huang xiuzhang’s equity inside the telephone organisation might be diluted to nine.seventy nine%, while tao bao will withdraw from the enterprise’s board, according to a report released by way of china’s country management for marketplace law on june 13.

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