Zheng Quan Zhi Xing·2025-08-29 13:11Core Viewpoint - Beijing Jingcheng Machinery Electric Company Limited's wholly-owned subsidiary, Tianhai Hydrogen Energy Equipment Co., Ltd., is conducting a capital increase and share expansion to diversify equity and enhance governance structure, raising a total of RMB 290 million from eight investors through public listing [1][3][19]. Group 1: Transaction Overview - The capital increase and share expansion will occur from July 15, 2025, to August 19, 2025, with a maximum target of RMB 300 million [1][3]. - The eight investors include major entities such as CRRC (Qingdao) Manufacturing Transformation Upgrade Private Equity Fund and China Petroleum Group Kunlun Capital Co., Ltd., collectively contributing RMB 290 million [1][3][19]. - Tianhai Industrial Co., Ltd., the parent company, has waived its preemptive rights but will maintain control over Tianhai Hydrogen Energy post-transaction [2][4]. Group 2: Financial Details - The total investment of RMB 290 million will be allocated as follows: RMB 129.53 million will be added to registered capital, and RMB 160.47 million will be allocated to capital reserves [3][10]. - The valuation for this capital increase is based on the company's total equity value of RMB 806 million as of the assessment date [12][19]. Group 3: Investor Information - The investors are private equity funds with significant capital, including CRRC (Qingdao) and China Petroleum, indicating strong institutional interest in the hydrogen energy sector [4][5][6]. - The investment structure allows for a 26.46% equity stake for the new investors post-capital increase [10][19]. Group 4: Regulatory and Approval Process - The transaction has been approved by the company's board and supervisory board, and does not require further shareholder approval [2][4]. - The capital increase is subject to completion of necessary regulatory procedures, including fund settlement and business registration changes [2][19]. Group 5: Strategic Implications - This capital increase is expected to enhance the company's competitiveness and optimize its capital structure, aligning with the interests of all shareholders [19]. - Tianhai Hydrogen Energy will remain a controlled subsidiary, ensuring no changes to the company's consolidated financial reporting scope [2][19].