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Xinjiang International Industry Boosts Unit's Capital by 400 Million Yuan

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Xinjiang International Industry (SHE:000159) will increase capital in wholly-owned subsidiary Xinjiang Zhongyou Chemical Group by 400 million yuan through a debt-for-equity swap.

Zhongyou Chemical's registered capital will rise to 900 million yuan from 500 million yuan, according to a Tuesday filing with the Shenzhen bourse.

The move aims to optimize the subsidiary's asset-liability structure and support further business development.

Shares of the oil and chemical products distributor closed 2% higher Tuesday.

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