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Yanfeng entered into an agreement on 3 December 2021 to acquire Adient Asia's 49.99% share in the Yanfeng Adient Seating Co., Ltd (YFAS) joint venture in China, giving Yanfeng full ownership.
Adient closed transactions to end its YFAS joint venture with Yanfeng Automotive Trim Systems, selling its 49.99% interest in YFAS and acquiring YFAS's 50% equity interest in CQYFAS and 100% equity interest in YFASLF. Net proceeds at closing totaled $695M.