Tianjin You Fa Steel Pipe Group Stock (601686.SH) plans to increase capital by 300 million yuan to its subsidiary Hainan Supply Chain.

Tianjin You Fa Steel Pipe Group Stock (601686.SH) announced that, in order to improve the financial strength and overall competitiveness of its subsidiary, optimize the asset-liability structure of the subsidiary, and promote the smooth operation of the subsidiary's business, the company's wholly-owned subsidiary Tianjin You Fa Supply Chain Management Co., Ltd. (hereinafter referred to as "You Fa Supply Chain") plans to increase the capital of its wholly-owned subsidiary You Fa (Hainan) Supply Chain Management Co., Ltd. (hereinafter referred to as "Hainan Supply Chain") by 300 million RMB, through a cash contribution to the registered capital. After the capital increase, the registered capital of Hainan Supply Chain will increase from 200 million RMB to 500 million RMB, remaining as a wholly-owned subsidiary of You Fa Supply Chain.