Haiyang Technology: Plans to increase capital by 220 million yuan to hold a subsidiary and implement fundraising projects.

Haiyang Technology announced that the company plans to use a total of 220 million yuan from the proceeds of the initial public offering of shares and its own funds to increase its stake in its holding subsidiary Haiyang Nylon, in order to implement the "annual production of 80,000 tons of polyester high modulus low shrinkage industrial silk project." The subscription price for this capital increase is 4.40 yuan per yuan of registered capital, with 50 million yuan allocated to registered capital and 170 million yuan allocated to capital reserves. After the capital increase, the registered capital of Haiyang Nylon will increase from 250 million yuan to 300 million yuan, and the company's equity stake will increase from 84% to 86.67%. This capital increase will benefit the company's industrial layout, enhance profitability, and improve its ability to withstand risks.