Qinshang Optoelectronics plans to reduce its registered capital of Guangzhou Qinshang to 51.25 million

On August 2, Qinshang Optoelectronics Board of Directors reviewed and approved the “Proposal on Reducing Registered Capital of Holding Subsidiary Guangzhou Qinshang Optoelectronics Co., Ltd.” and agreed to hold its subsidiary Guangzhou Qinshang Optoelectronics Co., Ltd. (“Guangzhou Qinshang”) The registered capital was reduced from 210 million yuan to 51.25 million yuan, a total reduction of 159 million yuan.

After the capital reduction was completed, the company and its wholly-owned subsidiary Guangdong Qinshang Optoelectronics Technology Co., Ltd. contributed 50.1 million yuan and 1.15 million yuan respectively, accounting for 97.76% and 2.24% of the registered capital respectively.

Qinshang Optoelectronics said that due to the partial expansion of the company's headquarters, the fundraising project has been capped and will be put into production in the near future. With the gradual advancement of the company's investment expansion project, the company's total production capacity is expected to fully meet the company's future years. In order to facilitate the production of centralized support and logistics transportation, the company decided to postpone the investment and construction plan of Guangzhou Qinshang. Based on business strategy and steady considerations, in order to improve the efficiency of capital use, the company plans to reduce the registered capital of Guangzhou Qinshang from 210 million yuan to 51.25 million yuan.

Qinshang Optoelectronics said that after the completion of this capital reduction, it will help improve the efficiency of the use of funds. This capital reduction will not affect the normal operation of the company and will not harm the interests of the company and shareholders.

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