Longbai Group: Plans to increase capital by 300 million yuan, subsidiary Zhongzhou Carbon

On July 10, Longbai Group announced that Henan Zhongtan New Materials Technology Co., Ltd., a subsidiary of the company, plans to increase the capital of Jiaozuo City Zhongzhou Carbon Co., Ltd. by 300 million yuan.
After the capital increase is completed, the registered capital of Zhongzhou Carbon will increase from 268.404 million yuan to 568.404 million yuan.
Financial data shows that Zhongzhou Carbon will achieve revenue of 1.6 billion yuan and net profit of 290 million yuan in 2022. As of the end of 2022, the assets of Zhongzhou Carbon reached 1.4 billion yuan.
Longbai Group stated that this capital increase is based on the company's development strategy and operating needs, which is conducive to further enhancing the financial strength and operating capabilities of subsidiaries, improving core competitiveness and profitability, and is in line with the company's development strategy and the interests of all shareholders.