Suli Co., Ltd., Oxon Asia S.R.L. to jointly invest Yuan50 million in Suli Ningxia

Date:12-04-2020

On 3rd December, Chinese agrochemical company Suli Co., Ltd. announced that the company, together with Oxon Asia S.R.L., will invest Yuan50 million in Suli Ningxia New Material Technology Co., Ltd., which is a wholly owned subsidiary of Suli Co., Ltd. Out of the capital increase of Yuan50 million, Suli Co., Ltd. will contribute Yuan14 million while Oxon Asia S.R.L. will contribute Yuan36 million. 

Before the investment, the registered capital of Suli Ningxia is Yuan100 million paid in by Suli Co., Ltd. After the capital increase, the registered capital of Suli Ningxia will increase to Yuan150 million, in which the company holds 76%, while Oxon Asia S.R.L. holds 24%. Suli Ningxia will still remain a controlled subsidiary of Suli Co., Ltd. Therefore, the company’s consolidated statement will not be not affected.