Ningbo Joyson Electronic Corp. (600699.SH) plans to increase the capital of its controlling subsidiary by $195 million through debt-to-equity conversion.

Ningbo Joyson Electronic Corp. (600699.SH) announced that in order to further optimize the capital structure of its automotive safety business entity JASH, reduce its asset-liability ratio, and promote the long-term and stable development of JASH, the company plans to increase its investment in the subsidiary JASH by approximately 195 million US dollars through debt-to-equity conversion, increasing its direct ownership in JASH by approximately 6.79%. All other shareholders of JASH will also forego proportional investments. After this capital increase, the company will further improve its final ownership percentage in the automotive safety business, strengthen its control over the automotive safety business, and increase the profit distribution ratio of the controlling subsidiary, which will help enhance the company's profitability.