Richen Shares has completed a 17 million yuan capital increase for its wholly-owned subsidiary Richen Food Sales Shanghai Company Limited. After the capital increase, Richen Shanghai's registered capital rose from 3 million yuan to 20 million yuan, with the funds to be used to supplement working capital and enhance development capabilities. Richen Shanghai has obtained a renewed business license from the Market Supervision Administration of Minhang District, Shanghai, and its business scope includes goods and technology import and export as well as wholesale of pre-packaged food.
Qingdao Richen Food Co LtdCapital increase of 17 million yuan for subsidiary to supplement working capital and enhance development capabilities.