Zhejiang RIFA Precision Machinery (002520.SZ) plans to make a phased increase of 6 million euros to its subsidiary in Hong Kong.

Zhejiang RIFA Precision Machinery (002520.SZ) announced that its subsidiary, Ri Fa Hong Kong, is a wholly-owned subsidiary holding 100% equity in Italy's MCM company and Zhejiang Maichuang Precision Machine Tool Co., Ltd. In order to meet the business expansion needs of Ri Fa Hong Kong and enhance its competitiveness in the industry, the company used its own funds of 6 million euros (equivalent to approximately RMB 48.3384 million based on the exchange rate as of May 15, 2025) to increase the capital of Ri Fa Hong Kong in installments based on its operational situation, for the purpose of supplementing working capital. After this capital increase, the company still holds 100% equity in Ri Fa Hong Kong, and its registered capital has increased from 6.05 million euros to 12.05 million euros, with the total number of shares remaining at 50,000 shares. The capital increase will mainly be used for business expansion and working capital supplementation of Ri Fa Hong Kong's subsidiary companies. This capital injection will provide strong support for the subsidiary's business expansion, help enhance its credibility, improve its brand image, expand its market coverage capabilities, and increase its market competitiveness, all in line with the company's development plans.