Cangzhou Pearl: Raised nearly 1 billion yuan to increase capital in subsidiaries and promote high-barrier nylon film projects
Latest News: Cangzhou Mingzhu Plastic Co., Ltd. (hereinafter referred to as “the company” or “Cangzhou Mingzhu”) held the third (temporary) meeting of the eighth board of directors on August 18, 2022, the eighth The second (temporary) meeting of the session of the Supervisory Committee reviewed and approved the “Proposal on Using Part of the Raised Funds to Increase Capital in Wholly-owned Subsidiaries to Implement Fund-raising Projects”, agreeing that the company will use the raised funds of RMB 484.17 million and RMB 490.980 million to invest in wholly-owned subsidiaries respectively. Subsidiaries Cangzhou Donghong Membrane Technology Co., Ltd. (hereinafter referred to as “Cangzhou Donghong Membrane”) and Wuhu Mingzhu Membrane Technology Co., Ltd. (hereinafter referred to as “Wuhu Mingzhu Membrane”) increased their capital to implement raised funds for investment projects and promote The company’s “high barrier nylon film project with an annual output of 38,000 tons” built in Cangzhou and Wuhu respectively.
The company used the raised funds of 484.17 million yuan to increase the capital of its wholly-owned subsidiary Cangzhou Donghong Film to implement the raised investment project “annual output of 38,000 tons of high-barrier nylon film project (Cangzhou)”, and 484.17 million yuan was all included in the capital reserve. The second capital increase will not increase the registered capital of Cangzhou Donghong Film.
The company used the raised funds of 490.98 million yuan to increase the capital of its wholly-owned subsidiary Wuhu Mingzhu Film to implement the raised investment project “annual output of 38,000 tons of high-barrier nylon film project (Wuhu)”, of which 100 million yuan was paid-in capital and the remaining 390.98 million yuan Yuan is included in the capital reserve, and this capital increase will not increase the registered capital of Wuhu Film. After the completion of this capital increase, Cangzhou Donghong Film and Wuhu Mingzhu Film are still wholly-owned subsidiaries of the company, and the company holds 100% of the shares.
According to the announcement issued by Cangzhou Mingzhu, as of December 31, 2021, Cangzhou Donghong Membrane had total assets of 175.9467 million yuan, total liabilities of 17.3735 million yuan, and net assets of 158.5732 million yuan; operating income in 2021 was 122.8408 million yuan and net profit was 2,020.09 yuan RMB 10,000 (the above financial data has been audited by an accounting firm); as of March 31, 2022, Cangzhou Donghong Membrane had total assets of RMB 178,914,900, total liabilities of RMB 19,140,900, and net assets of RMB 159,774,000; January-March 2022 The operating income was 21.7975 million yuan and the net profit was 1.2009 million yuan (the above financial data have not been audited by an accounting firm).
As of December 31, 2021, the total assets of Wuhu Mingzhu Filmmaking were 71.7316 million yuan, the total liabilities were 1.9803 million yuan, and the net assets were 69.7513 million yuan; the operating income in 2021 was 0.000 million yuan, and the net profit was -158,700 yuan (the above financial data were verified by accountants As of March 31, 2022, Wuhu Mingzhu Membrane had total assets of 115.3924 million yuan, total liabilities of 21.1015 million yuan, and net assets of 94.2909 million yuan; operating income from January to March 2022 was 0.00 million yuan, net profit – 310,400 yuan (the above financial data has not been audited by an accounting firm).