On February 5, Xizang Tianlu announced that its holding subsidiary, Xizang Gaozheng Building Materials Co., Ltd., intends to increase its capital to its holding subsidiary, Xizang Langxian Gaozheng Building Materials Co., Ltd.
In the early stage, Gaozheng shares and the company's controlling shareholder, Xizang Construction Materials Group Co., Ltd., a wholly-owned subsidiary of Xizang Zangjian Cement Co., Ltd., Nyingchi City City Investment Co., Ltd., and Langxian City Investment Co., Ltd., jointly invested in the establishment of Langxian Gaozheng. It is planned to build a 4000t/ d clinker cement production line by means of capacity replacement, mining right and cash injection, with an initial registered capital of 35 million yuan, 51% of which is held by Gaozheng, and the initial capital injection of 17.85 million yuan has been completed.
According to the needs of project construction, shareholders of all parties need to make additional investment in batches. It is estimated that the final registered capital will reach 800 million yuan, with 51% of Gaozheng shares, and a total of 408 million yuan will be contributed by production capacity indicators and cash.
As Zangjian Cement is a wholly-owned subsidiary of Zangjian Group, the controlling shareholder of the company, this transaction constitutes a joint investment with related parties.
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