Shengmei Shanghai: Intends to use 922 million yuan to increase capital to its wholly-owned subsidiary.

Shengmei Shanghai announced that the first meeting of the third board of directors of the company approved the proposal to use 922.3485 million yuan of raised funds to increase the capital of its wholly-owned subsidiary, Shengwei Shanghai, and implement the "R&D and Process Testing Platform Construction Project." In September 2025, the company issued shares to specific targets, raising a net amount of 4.435 billion yuan. The entire amount of this capital increase will be used as registered capital, and after the increase, Shengwei Shanghai's registered capital will increase from 700 million yuan to 1.622 billion yuan, still a wholly-owned subsidiary of the company. This capital increase will help promote the construction of the raised investment projects, does not change the use of raised funds, and is in line with the interests of the company and shareholders.