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Zhejiang Zhongjian Technology Subsidiary to Get 10 Million Yuan Capital Injection from Employee Stock Ownership Platform; Shares Fall 4%

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Zhejiang Zhongjian Technology (SHE:002779) subsidiary Shanghai Huazhijian Technology will receive 10 million yuan in capital injection from employee stock ownership platform Longxiang Zhichuang (Shanghai) Enterprise Management Partnership, according to a Tuesday disclosure to the Shenzhen Stock Exchange.

Following the capital injection, Huazhijian's registered capital will rise to 70 million yuan from 60 million yuan.

Upon completion of the capital increase, Longxiang Zhichuang will have a 14.2857% stake in the subsidiary, while the listed company's stockholding in Huazhijian will fall to 51% from 59.5%.

Shares slipped 4% during afternoon trading on Tuesday.

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