Bringspring subsidiary Shanghai Jinchuang reduces registered capital

Bringspring Science & Technology (SZSE:300290) announced today that its holding subsidiary, Shanghai Jinchuang Information Technology, will decrease its registered capital from RMB 10 million to RMB 9.4 million. This reduction is prompted by the withdrawal of Deqing Boyu Investment Management, a limited partnership, from Shanghai Jinchuang. As a result, Bringspring's stake in Shanghai Jinchuang will increase from 80% to 85.106%, while the stake held by company president Wang Gongxue will rise from 5% to 5.319%. The transaction, valued at RMB 12 million based on an overall valuation of RMB 20 million for Shanghai Jinchuang, was approved by the board of directors and does not require shareholder approval. The company believes this move will boost earnings and shareholder returns.