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FINWIRES

HEC Technology Unit Receives Capital Injection; Shares Rise 3%

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Guangdong HEC Technology (SHA:600673) subsidiary Ruyuan HEC Fluorine will receive a 500 million yuan capital injection from state-owned China Orient Asset Management, according to a Wednesday filing with the Shanghai bourse.

Of the amount, 7.8 million yuan will go into the subsidiary's registered capital, while the remaining 492.2 million yuan will go to its capital reserve.

Following the capital increase, China Orient will hold 2.1097% of Ruyuan HEC Fluorine.

The proceeds will help repay the subsidiary's existing debts.

Shares rose 3% during morning trading on Wednesday.

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