Zheshang Development Group (000906.SZ) plans to increase the capital of its wholly-owned subsidiary in Singapore, Zhongguan International, by $17 million.

Announcement from Zheshang Development Group (000906.SZ): In order to implement the company's globalization strategy and enhance its overseas financing capabilities, the company plans to increase the capital of its wholly-owned subsidiary in Singapore, SINO CROWN INTERNATIONAL PTE. LTD., by $17 million. After the capital increase, the registered capital of SINO CROWN INTERNATIONAL will be increased to $20 million.