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Tongwei to Inject 5.06 Billion Yuan Into Subsidiary; Shares Down 5%

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Tongwei (SHA:600438) plans to inject 5.06 billion yuan worth of capital into its subsidiary, Tongwei Solar Technology, according to a Shanghai bourse filing on Tuesday.

The capital injection will strengthen Tongwei Solar Tech's capital.

The amount will be recorded in Tongwei Solar Tech's capital reserve.

The Chinese photovoltaics manufacturer's shares dropped nearly 5% during the afternoon trade.

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