Yongjin Corporation announces RMB100 mln capital increase for stainless steel project
2021-04-19 16:27:40 [Print]
Yongjin Corporation recently announced that it and its related party Xinhongyuan plan to inject a total of RMB100 million (USD15
. 32 million) at their respective shareholding ratio in its controlling subsidiary Guandong Yongjin . This capital increase, including RMB75 million (USD11 . 49 million) from Yongjin Corporation and RMB25 million (USD3 . 83 million) from XinHongyuan, will be mainly used to build Guandong Yongjin's Phase II cold-rolled stainless steel project with an annual production capacity of 320,000t.