With 24 years of experience in the seating business, Yanfeng is the complete seat leader in China, covering virtually all domestic mainstream automakers. Its seating business unit has grown to include locations in nine countries, on four continents with 16,000 employees. The change in equity will further enhance Yanfeng's comprehensive service capabilities and market influence in the global automotive seating field, and better provide global customers with one-stop automotive seating solutions and full cabin solutions.

“Seating is one of Yanfeng’s core business strengths,” said Gerald Jia, CEO of Yanfeng. “The share repurchase will help us achieve cross-business and cross-regional synergy on a global scale, making Yanfeng a company with cross-business innovation and integration. It also solidifies us as a supplier capable of meeting future mobility trends and ever-changing market needs."

Currently, Yanfeng has established seating R&D and manufacturing capabilities in countries including Germany, Serbia, North America, Mexico, and Japan. In the future, Yanfeng plans to form a global seat supply chain and a fully globalized seat business.