Quanxin Cable Technology plans to increase its capital by 162 million yuan for its wholly-owned subsidiary through debt-to-equity conversion

According to the Zhitong Finance APP, Quanxin Cable Technology announced that in order to meet operational development needs and optimize the capital structure of its subsidiary Nanjing Quanxin Rail Transit Equipment Technology Co., Ltd. (referred to as "subsidiary" or "Quanxin Rail Transit"), it plans to increase capital by 162 million yuan through a debt-to-equity swap. After the completion of this capital increase, the registered capital of Quanxin Rail Transit will increase from 35 million yuan to 197 million yuan, and it will still be a wholly-owned subsidiary of the company, with no changes to the scope of the company's consolidated financial statements