Dayuan Pumps announced that the 17th meeting of its fourth board of directors approved a plan to increase the registered capital of its wholly owned subsidiary Anhui Xinhu by 277 million yuan using its own funds. After the capital increase, Anhui Xinhu's registered capital will rise from 100 million yuan to 377 million yuan, and the company will continue to hold 100% of its equity. Anhui Xinhu was established in May 2018, mainly engaged in pump and vacuum equipment manufacturing, mechanical equipment research and development, and goods import and export. The company said the capital increase is based on the needs of Anhui Xinhu's overseas business development, aiming to enhance the subsidiary's influence and competitiveness among clients.
Zhejiang Dayuan Pumps Ind CoDayuan Pumps injects 277 million yuan into its wholly owned subsidiary Anhui Xinhu to fund overseas business development.
