Daya Shengxiang Home Furnishing Co., Ltd. recently released an announcement regarding the investment progress of a new aluminum plate/sheet and strip and battery foil project. The announcement mentioned that both parties signed a capital increase agreement on December 14, with the partners including Guangxi Baise Energy Investment Development Group Co., Ltd. and Daya New Energy Material Technology (Guangxi) Co., Ltd.
According to the agreement, the project company will increase its registered capital by 450 million yuan, of which Daya Shengxiang will contribute 350 million yuan to subscribe to the newly added capital of the project company, thereby obtaining an 80% equity stake. Baise Energy Group will contribute 100 million yuan to subscribe to the newly added capital of the project company, obtaining a 20% equity stake. The main business operations of the project company include the construction of new aluminum plate/sheet and strip and battery foil projects.
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