Recently, Global New Material International Holdings Limited (also called CHESIR) disclosed the latest progress of its capital increase agreement. Its subsidiary, Luzhai Qishe Zhuguang Yunmu Material Co., Ltd. (referred to as “Qishe Luzhai”), has received a cash capital increase of 1 billion RMB from investors.
Previously, on November 20th, Global New Material International Holdings Limited announced that Qishe Luzhai had signed a capital increase agreement with Tonglu Xincheng Development Investment Co., Ltd. (referred to as “Tonglu Xincheng”). Tonglu Xincheng would infuse 1 billion RMB in cash into Qishe Luzhai, of which 26.2318 million RMB would be used to increase its registered capital, while the remaining amount would be allocated to its capital reserve.
It is worth noting that the capital increase agreement, in which Tonglu Xincheng invested 1 billion RMB in Qishe Luzhai, primarily affirms the future prospects of Qishe Luzhai. After the capital increase, Tonglu Xincheng will hold 20% of the equity in Qishe Luzhai.
It is reported that the completion of the capital increase is of significant importance to the implementation of Global New Material International Holdings Limited’s development strategy, which emphasizes both internal development and external expansion. With the steady progress of its domestic and international development plans, the company is expected to enter a new phase of growth and consolidate its leading and outstanding position in the synthetic mica industry.
Public information shows that Qishe Luzhai is the core subsidiary of Global New Material International Holdings Limited, primarily engaged in the research, development, production, and sales of mica, pearl pigments, related products, raw materials, and semi-finished goods.
