Xinhua Jin (600735): To Complete The Increase Of $1 Million To Kampuchea.
600735.SH announces that in order to further play the role of the overseas production base and reduce the unfavorable factors of the international trade environment, the company intends to transfer some of the production orders to the overseas wholly owned subsidiary Hai Shun Di (Kampuchea) Limited company (hereinafter referred to as "Hai Shun Di Kampuchea") for production and processing.
In August 28, 2019, the company held the fourth meeting of the twelfth board of directors, and passed the "motion on capital raising for the wholly owned subsidiary Hai Shun Di (Kampuchea) Co., Ltd.". The company's subsidiary, Qingdao Hai Shun Di import and Export Co., Ltd. (hereinafter referred to as "Qingdao Hai Shun Di") is replenishment by way of self financing, and the capital increase is 1 million US dollars.
Recently, the filing procedures for overseas investment projects of the above capital increase have been completed. In November 11, 2019, the Qingdao Hai Shun land was awarded the "overseas investment project registration notice" issued by the Qingdao development and Reform Commission, and was awarded the certificate of overseas investment certificate issued by the Qingdao Business Bureau in November 13, 2019. The capital increase will mainly be used for leasing, production and purchase of raw materials and payment of daily production and operation expenses in Kampuchea.
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