Shandong Weida Machinery (002026.SZ) plans to use the raised funds of 33.39 million yuan along with interest to increase capital to Shanghai Bailing, in order to ensure the remaining project payments for the raised investment project.

Shandong Weida Machinery (002026.SZ) announced that on September 21, 2024, the company held the twentieth interim meeting of the ninth board of directors and the twenty-first interim meeting of the ninth board of supervisors. The meeting approved the "Proposal on using raised funds to increase capital for wholly-owned subsidiary companies", agreeing to use 33.339 million yuan of raised funds and interest (the final amount will be based on the account balance at the time of the capital increase) to increase the capital of the wholly-owned subsidiary Shanghai Baicheng Electrical Appliances Co., Ltd. (referred to as "Shanghai Baicheng"), to ensure the payment of the remaining project funds for this raised funds project.