Tianhe Magnetic Materials (603072.SH) intends to increase the capital of its subsidiary, Tianhe New Materials, by 90 million yuan.

The Zhitong Finance and Economics APP news, Tianhe Magnetic Materials (603072.SH) announced that, in order to meet the current business plans and future development needs of the company, enhance the capital strength and operating capabilities of its wholly-owned subsidiary Tianhe New Materials, the company plans to increase the capital of Tianhe New Materials by 90 million RMB with its own funds. After this capital increase, the registered capital of Tianhe New Materials will change from 10 million RMB to 100 million RMB.