Lao Feng Xiang (600612.SH) plans to reduce the capital of its subsidiary First Pencil.
Lao Feng Xiang (600612.SH) announced that the company plans to make changes to its wholly-owned subsidiary, China First Pencil Co., Ltd. ().
Lao Feng Xiang (600612.SH) announced that the company plans to reduce the registered capital of its wholly-owned subsidiary, China First Pencil Co., Ltd. (referred to as "First Pencil"). After this reduction, the registered capital of First Pencil will change from 46.1125 million RMB to 20 million RMB. The company will maintain its 100% ownership of First Pencil, and this reduction will not result in any changes to the company's consolidated financial statements.
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