Hangcai Co., Ltd. Plans to Increase Capital in Hexing Aviation Materials to Achieve 34.1655% Equity Stake

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Hangcai Co., Ltd. announced plans to increase capital in Hexing Aviation Materials. This capital increase will use the company's own funds, and after completion, Hangcai Co., Ltd. is expected to hold a 34.1655% equity stake in Hexing Aviation Materials.

According to the announcement, Hexing Aviation Materials will increase its registered capital by 4.982 million yuan, all of which will be subscribed by Hangcai Co., Ltd. The capital increase price was determined at 12.04 yuan per registered capital, based on the filed net asset valuation of Hexing Aviation Materials.

Hexing Aviation Materials mainly engages in the research and production of high-strength and high-precision aluminum alloy materials and related products, which are widely used in nuclear industry, aerospace, and other fields. Hangcai Co., Ltd. stated that this capital increase aims to expand the company's layout in the advanced aluminum alloy material products sector, while enhancing Hexing Aviation Materials' capacity and profitability.

It is worth noting that this transaction still requires approval from the state-owned assets supervision and management authorities.