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AVIC Shenyang (600760.SH) plans to invest 160 million yuan in cash to acquire a 34.12% stake in Yangzhou Collaborative Innovation Research Institute Co., Ltd., a subsidiary of AVIC. The transaction will reduce the stake of AVIC Shenyang Aircraft Design Institute from 100% to 65.88%.
AVIC Shenyang's subsidiary Shenfei Company signed a strategic cooperation framework agreement with Shenyang Aviation Industry Group on June 9, 2021, to jointly build the aviation supply chain and promote the Shenyang Aviation Industrial Park (Shenbei Park) construction.