CHINA SUNTIEN plans to increase its investment in Xintian Weichang by 87.552 million yuan
China Suntien Green Energy's wholly-owned subsidiary Hebei Jiantou New Energy Co., Ltd. plans to increase its capital by 87.552 million yuan to its controlling shareholder Hebei Construction Investment Group, resulting in a shareholding ratio of 97.28% after the capital increase. This capital increase aims to enhance market competitiveness, aligns with the company's development strategy, and will not have a significant impact on its financial condition and operating performance
According to the Zhitong Finance APP, China Suntien Green Energy (00956) announced that its wholly-owned subsidiary Hebei Jiantou New Energy Co., Ltd. (hereinafter referred to as "Jiantou New Energy") plans to increase its capital in Xin Tian Wei Chang Co., Ltd. (hereinafter referred to as "Xin Tian Wei Chang") in proportion to its controlling shareholder Hebei Construction Investment Group Co., Ltd. (hereinafter referred to as "Hebei Jiantou"). Jiantou New Energy will contribute 87.552 million yuan in cash, and after this capital increase, Jiantou New Energy's shareholding ratio will remain at 97.28%; Hebei Jiantou will contribute 2.448 million yuan.
This capital increase is made according to the company's overall development strategy and will help enhance the company's market competitiveness, aligning with the overall development needs of the company. This related party transaction follows the principles of voluntariness, fairness, reasonableness, and mutual agreement. After the transaction is completed, the company's shareholding ratio in Xin Tian Wei Chang will remain unchanged, and it will not have a significant impact on the company's current financial status and operating performance, nor will it harm the interests of the listed company and its shareholders, especially minority shareholders
