Jiangmen Kanhoo Industry (300340.SZ): Gree's supply chain plans to increase its capital by 200 million yuan to Shenzhen Haoneng through debt-to-equity conversion.

Jiangmen Kanhoo Industry (300340.SZ) announced that the company's board of directors and board of supervisors have approved the proposal of increasing the capital of the company's wholly-owned subsidiary through debt-to-equity conversion by related parties, as well as related transactions. The company's related party, Zhuhai Gree Supply Chain Management Co., Ltd. (referred to as "Gree Supply Chain"), plans to increase its investment in Shenzhen Haoneng by converting a 200 million yuan debt into equity, subscribing to 1.99 billion yuan of new registered capital in Shenzhen Haoneng. After the capital increase, the company will hold 66.79% of Shenzhen Haoneng's shares, while Gree Supply Chain will hold 33.21% of the shares, transforming Shenzhen Haoneng from a wholly-owned subsidiary of the company to a controlling subsidiary. It is reported that this capital increase will help optimize the company's capital structure and reduce the asset-liability ratio.