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Xingtong Co., Ltd.: Plans to increase capital by 100 million yuan for its controlling subsidiary
Xingtong Co., Ltd. announced that the company plans to increase its capital in Shanghai Xingtong Chain Development by a proportionate amount along with minority shareholders Xiamen Jianfa Supply Chain Logistics Technology, a subsidiary controlled by the company.
The total amount of this capital increase is 100 million RMB, which will be fully invested by Shanghai Xingtong Chain Development into its wholly-owned subsidiary XINGTONG HERON, for the purchase of a 25,900 DWT stainless steel chemical vessel under construction.
Among the funds, the company will contribute 51 million RMB in cash, and Jianfa Supply Chain Logistics Technology will contribute 49 million RMB in cash.
After this capital increase, the registered capital of Shanghai Xingtong Chain Development will increase from 256 million RMB to 356 million RMB, with the company’s shareholding ratio remaining unchanged at 51%.