ST Kelon announced that the company intends to increase its capital to Hisense Rongsheng (Yangzhou) Refrigerator Co., Ltd. according to its shareholding ratio with the wholly-owned subsidiary Kelon Development Co., Ltd., with a total capital increase of 100 million yuan. The source of funds is allocated by Hisense Yangzhou. profit.
Hisense Yangzhou was established on July 3, 2003 with a registered capital of 241,380,500 yuan. ST Kelon directly holds a 74.33% stake in Hisense Yangzhou, and ST Kelon indirectly holds 25.67% of its equity through its wholly-owned subsidiary Kelon Development. In order to further enlarge and strengthen Hisense Yangzhou, ST Kelon and Kelon Development intends to invest all of the profits of 100 million yuan in Hisense Yangzhou according to the shareholding ratio. The relevant funds are mainly used for the reconstruction of new production lines and other production lines in Hisense Yangzhou. .
Upon completion, ST Kelon accumulatively invested in the registered capital of Hisense Yangzhou was 252,359,300 yuan, and the registered capital of Hisense Yangzhou increased to 341,384,500 yuan. As of March 31, 2010, Hisense Yangzhou had total assets of 882 million yuan, total liabilities of 474 million yuan, and net assets of 408 million yuan. In 2009, Hisense Yangzhou achieved operating income of 1.516 billion yuan and net profit of 176 million yuan.
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