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Mu Linsen Subsidiary plans to increase the capital of the company by 190 million yuan
On the evening of (14), Mulinsen (hereinafter referred to as the company) issued an announcement. The 22nd meeting of the third board of directors of the company reviewed and approved the “Proposal on the Company’s wholly-owned subsidiary to increase the capital of the company’s wholly-owned Sun Companyâ€. The wholly-owned subsidiary Mulinsen Co., Ltd. (hereinafter referred to as Hong Kong Mulinsen) used its own funds to its wholly-owned subsidiary Mulinsen (Jiangxi) Electronics Co., Ltd. yesterday (14) evening, Mulinsen (hereinafter referred to as the company) issued an announcement, the company's third board of directors The Twenty-Second Meeting reviewed and approved the “Proposal on the Company's wholly-owned subsidiary to increase the capital of the company's wholly-owned Sun Companyâ€, and agreed to wholly-owned subsidiary Mulinsen Co., Ltd. (hereinafter referred to as Hong Kong Mulinsen) to use its own funds to wholly-fund Subsidiary Mulinsen (Jiangxi) Electronics Co., Ltd. (hereinafter referred to as Mulinsen Electronics) increased its capital by 30 million US dollars (equivalent to RMB 190 million). After the capital increase, the registered capital of Mulinsen Electronics increased from US$30 million to US$60 million. (equivalent to about RMB 380 million). According to the data, Mulinsen Electronics was established in August 2017. Last year, it achieved revenue of 248 million yuan and net profit of 32 million yuan. Its business scope includes: production and sales of liquid crystal display devices, light-emitting diodes and series of products, materials and accessories. Trade; production and sales of lighting fixtures and their import and export trade; production and sales of mechanical equipment, hardware products and electronic products (excluding automotive electronic devices and energy-type power batteries) and their import and export trade; urban lighting engineering services; lighting engineering design and construction; Energy-saving technology promotion services; landscaping engineering services; contract energy management (except for projects prohibited by laws and administrative regulations; projects subject to laws and administrative regulations must obtain a permit to operate). Mulinsen said that this capital increase is beneficial to Mulinsen Electronics to expand production and operation scale, improve asset structure, enhance its own operational capabilities, and help to further expand its business, in line with the company's business development strategy. The source of funds for this capital increase is the self-owned fund of Hong Kong Mulinsen. After the completion of the capital increase, Mulinsen Electronics will remain the company's holding company and will not affect the scope of the company's consolidated statements. After this capital increase, the development of Mulinsen Electronics will still be affected by objective factors such as market prospects and changes in industry policies.