Nandu Power Intends to Increase Capital by 750 Million to Two Subsidiaries

2023-12-27 09:19:13

In order to enhance its financial strength and competitiveness.

On December 25, Nandu Power Supply announced that in order to meet the daily business development needs of its subsidiaries Jiuquan Nandu Power Supply Co., Ltd. (Hereinafter referred to as "Jiuquan Nandu") and Anhui Nandu Huatuo New Energy Technology Co., Ltd. To ensure its long-term stable development, the company intends to increase the capital of Jiuquan Nandu and Nandu Huatuo New Energy.

Specifically, the total amount of this capital increase is RMB 750 million, of which the amount of capital increase to Jiuquan Nandu is RMB 200 million, the amount of capital increase to Nandu Huatuo New Energy is RMB 550 million, the amount of subscription to the newly increased registered capital of Nandu Huatuo New Energy is RMB 26,190,500, and the remaining RMB 523,809,500 is included in the capital reserve. Upon completion of the

capital increase, Nandu Power will hold 71.11% equity interest in Nandu Huatuo. As 28.89% of the shares held by the remaining minority shareholders are equity investments with repurchase clauses, upon completion of the capital increase, the Company will actually own 100% equity interest in Nandu Huatuo.

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