China Tungsten High-Tech approves capital injection for Nanchang Cemented Carbide

China Tungsten And Hightech Materals Co., Ltd. announced its board of directors unanimously approved a proposal to inject capital into its holding subsidiary, Nanchang Cemented Carbide Co., Ltd.

The resolution entails a monetary capital increase of CNY 127,450,050 by the company, maintaining its original shareholding ratio. This is part of a larger total capital increase of CNY 150,000,000 from all shareholders. The funds are primarily designated for the intelligent transformation of Nanchang Cemented Carbide's product line equipment and to supplement its working capital.

This resolution had previously been reviewed and approved by the company's Board of Directors Strategy and Sustainable Development Committee. The decision reflects a strategic move to bolster the subsidiary's operational capabilities and financial stability.