Shaoneng Group boosts subsidiary capital, divests non-operating properties

Guangdong Shaoneng Group announced an RMB 186,673,560 capital increase for its controlled subsidiary, Shaoguan Hongda Gear Co., Ltd., with RMB 62,224,520 allocated to registered capital. This investment aims to bolster Hongda Gear's growth in the new energy vehicle component sector, optimize its debt structure, and expand new business. Following the increase, Hongda Gear's registered capital will reach RMB 180,000,000, with Shaoneng Group holding a 96.36% stake.

Additionally, Shaoneng Group plans to publicly list 15 non-operating real estate properties for transfer, valued at RMB 16,547,000. This move is part of an initiative to optimize the company's asset structure, improve operational efficiency, reduce management costs, and refocus on its core business. The asset disposition is expected to unlock capital.

Both resolutions were approved by the board of directors with unanimous consent, demonstrating a concerted effort by Shaoneng Group to strategically manage its assets for future growth and operational efficiency. The board also adopted a new management system for executive departures.