# HITE to acquire 75% stake in Xingzhida

Shanghai Hi-Tech Control System Co., Ltd. (HITE) announced it will issue shares and pay cash to purchase 75% equity of Xingzhida from eight counterparties. Xingzhida will become a holding subsidiary of HITE.

- Type: Acquisition
- Announced: 2023-06-30
- Where: China
- Status: announced
- Products: industrial control systems, automation products
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Xingzhida](https://endata.com/companies/70766.md) (target)
- [Shanghai Hi-Tech Control System Co., Ltd.](https://endata.com/companies/71159.md) (acquirer)

## Sources

- [hite.com.cn](http://www.hite.com.cn/en/2023-06-30/093345960.html), 2023-06-30: "HITE announced that it intends to issue shares and pay cash to purchase 75% equity of Xingzhida held by eight counterparties, including Shen Chang."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.