Suzhou Jinfu Technology Subsidiary to Receive Capital Infusion for Battery Project
Suzhou Jinfu Technology (SHE:300128) subsidiary Shanghai Jinfu New Materials Technology will receive a 470-million-yuan capital infusion from Shanghai Jinfu Private Equity Investment Fund Partnership, according to a Tuesday filing with the Shenzhen Stock Exchange.Of the amount, 67.2 million yuan will go to the subsidiary's registered capital, while the remainder will be allocated to the capital reserve.Upon completion of the capital increase, the listed company will hold 69.0755% of Shanghai Jinfu, while the fund will hold 30.9245%.Proceeds from the capital increase will go to the construction and production of the Jinjinfu New Materials Western Base Project, set to prdouce up to 120,000 tons of battery electrodes, binders and thermal management coolants.
