BRETON Energy Saving has received a capital increase of 38 million yuan and will focus on mining-related businesses.

date
06:48 22/04/2026
avatar
GMT Eight
Boriton (01333) announced that on April 21, 2026, the company's non-wholly owned subsidiary Boriton Smart Electric, indirectly owned subsidiary Boriton Energy Saving, and investors have entered into a capital increase agreement. Under the capital increase agreement, Mr. Chen Fangming will contribute RMB 14.25 million in cash, Mr. Zhou Xi will contribute RMB 21.25 million in cash, and Mr. Xiong Chongren will contribute RMB 2.5 million in cash, totaling RMB 38 million in cash for the capital increase and expansion of Boriton Energy Saving.
BRETON (01333) announced that on April 21, 2026, the company's non-wholly-owned subsidiary BRETON Smart Electric, and its indirect subsidiary BRETON Energy Efficiency, have entered into a capital increase agreement with investors. According to the agreement, Mr. Chen Fangming will contribute RMB 14.25 million in cash, Mr. Zhou Xi will contribute RMB 21.25 million in cash, and Mr. Xiong Chongren will contribute RMB 2.5 million in cash, totaling RMB 38 million in cash to increase the capital and shares of BRETON Energy Efficiency. Before this capital increase, BRETON Energy Efficiency was an indirect subsidiary of the company. After this capital increase is completed, the registered capital of BRETON Energy Efficiency will increase from RMB 12 million to RMB 50 million. BRETON Smart Electric's stake in the target company will decrease from 100% to 24%, and the target company will no longer be a subsidiary of the company, and its financial performance will no longer be consolidated into the group's financial statements. The announcement stated that this capital increase is in line with the strategic development plans of the group and the target company, and will help the target company enhance its capital strength, optimize its equity structure, and corporate governance. Introducing investors as strategic partners will bring more industry resources (including mining operations, mining rights acquisition, and mining industry talent) and financial support to the target company, which will help focus on the development of its mining business and market expansion, enhance its independent development capabilities, and the development of the mining area market will benefit the introduction and demonstration of the company's zero-carbon mine solution, thereby forming significant synergies. It is reported that the main business activities of the target company include energy storage technology services, leasing and sales of photovoltaic power generation equipment, CECEP Solar Energy power generation technology services, manufacturing and sales of intelligent power distribution and control equipment, research and development and manufacturing of distribution switch control equipment, mining machinery manufacturing and sales, manufacturing and sales of intelligent vehicle-mounted equipment, sales of new energy vehicles-related products, and technical services. After this capital increase is completed, it plans to rename itself as "BRETON Future Mining (Shanghai) Co., Ltd." (subject to final approval by the industrial and commercial system), and will focus on mining-related businesses. Mr. Chen Fangming is the chairman, general manager, executive director, and controlling shareholder of the company. Mr. Zhou Xi and Mr. Xiong Chongren are both independent third parties unrelated to the company and its related persons.