Hangzhou Oxygen boosts subsidiaries, appoints new director

Hangzhou Oxygen Plant Group has announced capital increases for two wholly-owned subsidiaries and a change in its board composition. The company will inject 30 million yuan into Jiangsu Hangyang Industrial Gas Company Limited, raising its registered capital from 20 million yuan to 50 million yuan. This move aims to support daily operations and enhance market competitiveness.

Separately, Hangzhou Oxygen will invest 31 million yuan into Hangzhou Jiande Hangyang Gas Company Limited to facilitate the "Ningbo Zhenpai Electronic Bulk Gas Project." This project, with an estimated total investment of up to 45 million yuan, will expand the company's electronic gas capabilities and strengthen its regional presence.

In board-related news, Qian Yuchen has been elected as a non-independent director, with his term effective immediately. Consequently, Qian Yuchen will also serve on the audit committee, adjusting the committee's composition to include Lei Xintu (chairman), Yao Jianhua, and Qian Yuchen.