Dec. 17, 2019
On 11th December, 2019, Chinese agrochemical company Suli Co., Ltd.
announced an increase of capital investment of Yuan90 million in Suli Ningxia Chemicals, to promote the business development of its wholly-owned subsidiary, in conjunction with its strategic development plan.
After the increase, the registered capital of Suli Ningxia Chemicals will rise from Yuan10 million to Yuan100 million while the percentage of Suli's share in Suli Ningxia Chemicals remains unchanged, as it holds 100% of the company’s shares. Suli Ningxia Chemicals is not yet operational, and as of 30th September, 2019, its total assets amounted to Yuan5,003,580.44 million, with a net profit of Yuan3,580.44 from January to September 2019.
The increase in capital aims to enhance the financial strength and operation capacity of Suli Ningxia Chemicals, is in line with the company’s overall planning, and is part of its medium and long-term development strategy.