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Neway shares plans to increase the capital of Baowei Technology by 7 million US dollars

 Last Update: 2022-03-21
 Source: Internet
 Author: User

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[ Star Enterprise of Chemical Machinery and Equipment Network ] On November 17, Neway issued an announcement that Baowei Technology is a wholly-owned subsidiary of the company, with a registered capital of 12.
6 million US dollars.
According to the company’s business strategic plan, the company uses self-raised funds of 7 million US dollars.
Increase the capital of Baowei Technology.
After the capital increase, Baowei Technology's registered capital will be changed to 19.
6 million U.
S.
dollars, and it will remain a wholly-owned subsidiary of the company.

Chemical machinery and equipment network star enterprise chemical machinery and equipment

NFV is a wholly-owned subsidiary of Baowei Technology, with a registered capital of USD 5.
5 million.
According to the company’s business strategic plan, Baowei Technology will increase its capital in NFV with the company’s capital increase of USD 7 million.
After the capital increase, the registered capital of NFV will be changed to 1,250.
Million dollars, still a wholly-owned subsidiary of Baowei Technology.

　　Baowei Technology's business scope includes valve product sales, market development, maintenance of customer relationships, provision of related customer services, and establishment of marketing networks.
NFV's business scope is: the production of valves, wellhead devices and their spare parts used in the petroleum industry.

　　Neway said that the capital increase will further enrich the registered capital of Baowei Technology and NFV, and provide a solid guarantee for the long-term business development of both.
The company's capital increase to Baowei Technology will be used in full for Baowei Technology's capital increase in NFV.
The company’s investment in the construction of a production base in Vietnam is conducive to expanding the company’s overseas production capacity, fully exploring the market, better meeting market demand, enhancing the company’s profitability and competitiveness, providing support for the company’s sustainable and healthy development, and conducive to the company’s consolidation and upgrading of the industry The market position is in line with the "going out" strategic direction encouraged by the state.

　　According to the data, as a domestic industrial valve supplier with strong comprehensive strength, Neway has been committed to providing customers with a complete set of industrial valve solutions since its establishment, and providing a series of products covering the entire industry for the oil and gas, chemical, and electric power industries.

　　On October 29, Neway issued its third quarterly report for 2020.
From January to September 2020, the company realized operating income of 2.
707 billion yuan, a year-on-year increase of 22.
40%; net profit attributable to shareholders of listed companies was 401 million yuan, a year-on-year increase of 8.
10 %.

　　Original title: Neway shares plans to increase the capital of Baowei Technology by 7 million US dollars

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