On December 18, Keliyuan issued the announcement on capital increase to wholly-owned subsidiaries.
The announcement said that in order to meet the actual needs of the project investment of Yiyang Keliyuan New Energy Co., Ltd. (Hereinafter referred to as "Yiyang New Energy"), a wholly-owned subsidiary, the company intends to increase its capital by 100 million yuan in cash. Upon completion of the capital increase, the registered capital of Yiyang New Energy will be changed from 150 million yuan to 250 million yuan. According to the data
, Yiyang New Energy was established on October 14, 2020, with a registered capital of 150 million yuan. At present, it mainly produces and sells batteries and their accessories, and will undertake the company's energy storage system integration business in the future. It is a wholly-owned subsidiary of Hunan Keliyuan New Energy Co., Ltd. (Hereinafter referred to as the "Company"). At present, Yiyang New Energy mainly produces and sells batteries and their accessories, and will subsequently undertake the company's energy storage system integration business.
The announcement said that Yiyang New Energy is a wholly-owned subsidiary of the company, and this increase in registered capital will help Yiyang New Energy to increase its capital strength and asset scale, strengthen the investment in the construction of the company's energy storage system integration business, and help the company's subsidiaries to further optimize the structure of assets and liabilities, enhance financing capacity and enhance risk resistance. This capital increase will not adversely affect the normal production and operation of the company.