HuaiBei Mining: Intends to increase the capital of its wholly-owned subsidiary, HuaiKuang Shares, by RMB 5.718 billion through debt-to-equity conversion.

On November 8th, Jin10 Data reported that Huaibei Mining announced that the company plans to increase capital to its wholly-owned subsidiary Huai Mining Co., Ltd. with the relevant creditor’s rights raised by convertible bonds, of which CNY 324,893,000 will be included in the registered capital of Huai Mining and the remaining CNY 246,956,930 will be included in the capital reserve of Huai Mining. After the completion of this capital increase, the registered capital of Huai Mining will be changed from CNY 6.75107 billion to CNY 10 billion, and it will still be a wholly-owned subsidiary of the company. The company’s use of the relevant creditor’s rights raised by convertible bonds to increase capital to its wholly-owned subsidiary is conducive to optimizing the internal resource allocation and asset-liability structure of the company, improving the core competitiveness and risk resistance of the company, and is in line with the company’s development strategy.