State Administration for Market Regulation: Luxshare Precision's acquisition of part of Wingtech Technology's business was an illegal implementation of concentrated operations, and it was decided to impose a fine of 900,000 yuan on it.
China's State Administration for Market Regulation has fined Luxshare Precision Industry Co., Ltd. 900,000 yuan for illegally concentrating business operations. The company acquired a portion of Wingtech Technology's business without prior declaration, violating anti-monopoly laws. Luxshare Precision proactively reported the violation and has since improved its compliance management system, leading to a lighter penalty. AI