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Certainly! Here’s a rewritten, unique, and human-like version of the content in American English, replacing “Yicai” with “Digital Phablet” and removing any editor mention:
Digital Phablet — July 23 — Tianrun Industrial Technology, a Chinese company specializing in engine components, is planning to invest CNY 135 million (approximately USD 18.8 million) to acquire Altechno Auto Parts, a Korea-owned automotive parts manufacturer located in Shandong province. This move aims to broaden Tianrun’s product lineup by adding lightweight aluminum components.
The company has finalized a share transfer agreement with a local branch of South Korea’s Altechno Metal, along with Altechno Auto Parts’ other shareholders. The deal is anticipated to be completed by 2027.
Altechno specializes in high-pressure aluminum castings used in engine and transmission housings for passenger vehicles. This acquisition will allow Tianrun, which currently mainly produces cast iron and forged steel parts, to diversify its offerings into lighter, more advanced components.
In recent years, Altechno has faced financial challenges due to decreased demand from its key South Korean clients operating in the Chinese market. In the first quarter, the company reported a net loss of CNY 4 million (around USD 550,000) on revenue of CNY 100 million (about USD 14 million), with negative operating cash flow, and its accounts receivable grew to CNY 265 million by quarter’s end.
Following the announcement, Tianrun’s shares traded slightly lower, closing at CNY 6.37 (roughly USD 0.90), a 0.5% decline from the previous session, after having risen as much as 3.8% earlier in the day on the Shenzhen stock exchange.
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