China Automotive Systems, Inc. has announced a definitive agreement and plan of merger with its wholly-owned subsidiary, China Automotive Systems Holdings, Inc., incorporated in the Cayman Islands. Under the terms of the agreement, China Automotive Systems, Inc. will merge into CAAS Cayman, with the latter surviving and subsequently adopting the name China Automotive Systems Inc. This strategic move will enable CAAS Cayman to continue the company's business operations as conducted by its predecessor. The merger, subject to customary closing conditions, will also see the current directors and officers of China Automotive Systems, Inc. assuming their roles at CAAS Cayman, ensuring continuity in leadership.
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