Baiao Chemical: Subsidiary plans to increase capital by 700 million yuan and take controlling stake in Xinhui Union.

Jinshi Data News on October 7th, Bai’ao Chemical announced that its wholly-owned subsidiary, Xin’ao Hua, intends to increase its capital in Suzhou Xinhuilian Semiconductor Technology Co., Ltd. by 700 million yuan. After the capital increase, it will directly hold 46.6667% equity and collectively control 54.6342% of the voting rights through entrusted voting rights. After the completion of this transaction, Xinhuilian will become a holding subsidiary of Xin’ao Hua and be included in the company’s consolidated financial statements. Xinhuilian’s main business includes coating and developing machines, photolithography machines, and other yellow light process equipment.