Jiaao Enprotech increases stake in subsidiary

Zhejiang Jiaao Enprotech (SSE: 603822) announced it will increase its equity stake in its subsidiary, Lianyungang Jiaao New Energy, by acquiring shares from 18 minority shareholders. The company's stake will rise from 30.5992% to 39.0990% following the transaction. The transfer involves Jiaao Enprotech acquiring all shares held by these minority shareholders, who have agreed to the transaction for zero consideration, because the equity contributions have not been paid. The company has the right to acquire the shares. The total registered capital will be 235,300. The move will streamline operational decisions and is not expected to have an adverse impact on Jiaao Enprotech's finances, business, or continued operations. The company's board of directors has already approved the transaction.