FAWER Automotive Parts Plans to Raise Subsidiary's Capital By 20 Million Yuan

(MT Newswires) -- FAWER Automotive Parts (SHE:000030, SHE:200030) plans to raise the capital of its subsidiary, Fuao Smart Energy Technology, by 20 million yuan through the introduction of a new investor, according to a Shenzhen bourse filing on Tuesday. The capital increase will be conducted through public listing at Changchun Property Rights Exchange (Group) to search for a potential investor. The capital increase will help fund the completion of a closed-loop battery recycling ecosystem, the Chinese automotive parts manufacturer said.