Universal Qian Chao intends to increase capital of 80 million yuan Chongqing Auto Parts Company

Wanxiang Qianchao announced on the evening of January 13, 2012 that the company plans to raise capital of 80 million yuan in a wholly-owned subsidiary of Wanxiang Qianchao Chongqing Auto Parts Co., Ltd. using cash raised.

The current registered capital of Chongqing parts is 40 million yuan, and the registered capital of Chongqing parts after the capital increase is in place is 120 million yuan.

According to the announcement, Chongqing parts are located in Chongqing Chongqing Airport Industrial Park. It is responsible for the implementation of the company’s plan to increase investment in 3 million constant velocity drive shafts in the project of an annual output of 8.4 million fixed speed axle assembly fixed assets. The total planned investment is 417.95 million yuan. In 2013, all investments were completed, of which 1.2 million were first implemented in the first phase.

Wanxiang Qianchao stated that after the capital increase is completed, it can speed up the first phase of investment in Chongqing's component implementation investment project planning, which is conducive to the implementation of the entire investment project, which is conducive to the further expansion of the company's business scale and the improvement of its performance.