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On the evening of April 22, Seres issued a statement revealing that the inaugural meeting of its sixth board of directors had ratified the "Proposal on Capital Increase and Share Expansion for the Subsidiary." As outlined in the proposal, Chongqing Landian Technology Co., Ltd. is set to augment its registered capital by RMB 680 million. This increase will be financed through cash subscriptions by a market-oriented equity investment fund initiated by the Shapingba District of Chongqing, an employee stock ownership platform, and additional investors. Seres has decided to forgo its preemptive subscription rights for this new capital injection, which encompasses an increase not exceeding RMB 7.2 billion. Upon completion of the capital raise, Seres' ownership stake in Landian Technology will diminish from 100% to 32%, resulting in the loss of its controlling interest.
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