TUNA(SH:603177) Zheng Quan Zhi Xing·2025-08-27 16:18Overview - The core point of the announcement is the capital increase by Zhejiang Dechuang Environmental Technology Co., Ltd. to its subsidiary Ningbo Yongde Environmental Development Co., Ltd. to fund the acquisition of a 40% stake in Shaoxing Huaxin Environmental Technology Co., Ltd. [1][2] Group 1: Capital Increase Details - The company will increase its investment in Ningbo Yongde by 40,584,000 RMB, while another shareholder, Ningbo Energy Group Co., Ltd., will contribute 27,056,000 RMB, totaling 67,640,000 RMB for the acquisition [1][2] - After the capital increase, Ningbo Yongde's registered capital will rise from 80,000,000 RMB to 147,640,000 RMB [1] Group 2: Financial Performance of Ningbo Yongde - As of December 31, 2024, Ningbo Yongde had total assets of 23,793.61 million RMB and net assets of 5,259.02 million RMB [3] - For the first half of 2025, total assets decreased to 22,876.65 million RMB, and net assets were 4,888.10 million RMB [3] - The company reported a revenue of 3,412.74 million RMB for 2024, which dropped to 985.87 million RMB by June 30, 2025, with a net loss of 417.79 million RMB in 2024 and 370.92 million RMB in the first half of 2025 [3] Group 3: Purpose and Impact of the Capital Increase - The purpose of the capital increase is to meet the funding requirement for acquiring the 40% stake in Huaxin Environmental, which will add waste incineration business to the company and enhance its competitiveness in hazardous waste disposal [5][6] - The funding will come from the company's own resources, and the transaction is expected to have no adverse effects on the company or its shareholders [5][6] Group 4: Approval Process - The board of directors approved the capital increase and related transactions during a meeting on August 26, 2025, with independent directors and the audit committee also reviewing the proposal [2][6] - The transaction is classified as a related party transaction and does not constitute a major asset restructuring, pending approval from the shareholders' meeting [2][6]