Nanjing Quanxin Cable Technology (300447.SZ) plans to increase the capital of its wholly-owned subsidiary by 162 million yuan through debt-to-equity conversion.

Nanjing Quanxin Cable Technology (300447.SZ) announced that, for the needs of business development and optimizing the capital structure of its subsidiary Nanjing Quanxin Rail Transit Equipment Technology Co., Ltd. (referred to as "the subsidiary" or "Quanxin Rail Transit"), it plans to increase the capital of Quanxin Rail Transit by 162 million yuan through debt-to-equity conversion. After this capital increase, Quanxin Rail Transit's registered capital will increase from 35 million yuan to 197 million yuan, and it will remain a wholly-owned subsidiary of the company. There will be no change in the scope of the company's consolidated financial statements.