Ningbo Baosi Energy Equipment Co LtdBaosi Shares plans to inject 500 million yuan into subsidiary for new production base, expanding capacity and seizing growth opportunities.

Baosi Shares announced on the evening of July 24 that it plans to inject 500 million yuan in cash into its wholly-owned subsidiary, Jiangxi Baosi Industrial Chain Services, to build a smart manufacturing factory with an annual capacity of 30,000 refrigerant compressors and heat pumps. The company stated that driven by dual-carbon policies, global energy-saving and carbon-reduction upgrades, and the normalization of extreme weather, the refrigerant compressor and heat pump industry has entered a period of rapid growth. The construction of this new base will break through existing production capacity limits, enhance supply and delivery capabilities, and seize the high-growth dividends of the industry and opportunities for domestic substitution. After the capital increase, the registered capital of the Jiangxi industrial chain subsidiary will rise to 1.3 billion yuan, with Baosi Shares holding 84.62 percent and Ningbo Baosi Industrial Chain Services holding 15.38 percent.
Ningbo Baosi Energy Equipment Co LtdBaosi Shares plans to inject 500 million yuan into subsidiary for new production base, expanding capacity and seizing growth opportunities.
Jiangxi Baosi Industrial Chain Services receives 500 million yuan capital injection to build smart manufacturing factory for refrigerant compressors and heat pumps.
Ningbo Baosi Industrial Chain Services will hold 15.38% of the subsidiary after capital increase, benefiting from the expansion.