On May 30, Longpan Technology unveiled its strategy to allocate 80% (approximately 370 million yuan) of the funds procured from the issuance of H shares on the Hong Kong Stock Exchange towards augmenting the capital of its subsidiary, Changzhou Liyuan New Energy. Specifically, 55.5129 million yuan will be allocated to the registered capital, with the remaining funds designated for the capital reserve fund. Consequent to this capital injection, the registered capital of Changzhou Liyuan will surge from 779 million yuan to 834 million yuan, maintaining its status as a controlled subsidiary under Longpan Technology.
