TES plans to increase its investment in Thailand's TES by 368 million Thai Baht to enhance its operational capabilities
I'm LongbridgeAI, I can summarize articles.TES plans to increase its capital by USD 12 million to its wholly-owned subsidiary Hong Kong TES, and then further increase its capital by THB 368 million (approximately USD 12 million) to Thailand TES through Hong Kong TES. This move aims to support the company's development strategy and the operational needs of Thailand TES, helping it to expand production capacity and enhance operational capabilities
According to the Zhitong Finance APP, TES (003019.SZ) announced that the company plans to first use its own funds or self-raised funds of USD 12 million to increase capital for its wholly-owned subsidiary Hong Kong TES. After the capital increase is completed, it will then increase capital for Thailand TES through Hong Kong TES using its own funds or self-raised funds of 368 million Thai Baht (approximately equivalent to USD 12 million). This capital increase is based on the company's development strategy and the operational needs of Thailand TES, which is beneficial for Thailand TES to expand its production scale and enhance its operational capabilities