Xinguangzheng intends to increase capital by RMB 14 million to its wholly-owned subsidiary Qingdao Xinguangzheng Metal Structure Manufacturing Co., Ltd.
Xinguangzheng (834422) recently issued an announcement that the company intends to increase the capital of its wholly-owned subsidiary Qingdao Xinguangzheng Metal Structure Manufacturing Co., Ltd. (hereinafter referred to as "Metal Structure Company") by RMB 14 million; after the completion of this capital increase, the registered capital of Metal Structure Company will increase from RMB 16 million to RMB 30 million.
According to the standard unqualified opinion "Audit Report" issued by Deloitte Touche Tohmatsu CPA Ltd. (Special General Partnership) on April 20, 2023, Deloitte Audit No. (2023) No. 110A012491, as of December 31, 2022, the company's audited consolidated financial statements for 2022 had total assets of RMB 639,314,079.75 at the end of the period and net assets of RMB 232,628,974.62 at the end of the period, and the amount of this capital increase was RMB 14 million.
The purpose of this foreign investment: This capital increase is mainly to enhance and improve the company's comprehensive competitiveness and future overall benefits, promote the sustainable and healthy development of subsidiaries, and comprehensively enhance the company's overall competitiveness and profitability.
Risks of this foreign investment: This capital increase is a decision made based on the company's long-term development, and there are no significant risk factors. The company will further improve the internal control process and control supervision mechanism, actively prevent and respond to possible risks, and ensure the company's operation and sustainable development.
Impact of this foreign investment on the company's operations and finances: This foreign investment will not have a significant adverse impact on the company's financial status and operating results, and there is no situation that damages the interests of the company and all shareholders; it is conducive to enhancing the profitability and comprehensive competitiveness of subsidiaries, and has a positive effect on the company's future performance and revenue growth.
According to the information on Wabei.com, Xinguang is focusing on the design, production, sales and installation of steel structure products, and is developing its business with its competitive technology, product quality and customer service capabilities. According to the different needs of customers, the execution of the entire contract usually requires design, production, inspection, delivery, installation, acceptance and other steps.
