Visionox(SZ:002387) Shang Hai Zheng Quan Bao·2025-09-26 18:10Core Viewpoint - The company, Visionox Technology Co., Ltd., has approved a capital increase and market-oriented debt-to-equity swap for its subsidiary, Kunshan Guoxian Optoelectronics Co., Ltd., with an initial investment of 500 million RMB to reduce debt and optimize its capital structure [3][10][39]. Group 1: Board Meeting and Decision - The seventh board meeting of the company was held on September 26, 2025, with all seven directors present, and the meeting complied with legal and regulatory requirements [2]. - The board unanimously approved the proposal to introduce an investor for capital increase and market-oriented debt-to-equity swap [3][11]. Group 2: Capital Increase Details - The initial capital increase amount is 500 million RMB, entirely in cash, aimed at repaying existing loans from the Industrial and Commercial Bank of China [3][14]. - After the capital increase, the registered capital of Kunshan Guoxian will rise from approximately 6.71 billion RMB to about 7.19 billion RMB, with Visionox holding 86.69% of the shares [3][14]. Group 3: Investor and Fund Structure - The investor is the Gongrong Jintou No. 2 (Suzhou) Equity Investment Fund Partnership, with a total subscribed capital of 818 million RMB, where Visionox contributes 204 million RMB, accounting for 24.94% of the fund [13][15]. - The fund is managed by Industrial Bank Capital Management Co., Ltd., and is established to engage in private equity investment and asset management [15][16]. Group 4: Financial and Operational Impact - The capital increase is expected to effectively lower the asset-liability ratio and reduce interest-bearing debt, aligning with national policy and the company's development goals [10][39]. - The transaction does not constitute a major asset restructuring or related party transaction as per regulatory definitions [11][39].