Anning Shares: In order to improve the capital strength and asset scale of Anning Titanium Materials, it is planned to increase its capital by 1.7 billion yuan

 January 17- Anning Co., Ltd.(002978) announced that in order to support the construction and business development of the entire energy-grade titanium alloy industry chain project with an annual output of 60,000 tons, the company plans to use monetary funds to increase capital to Anning Titanium Materials. The price of this capital increase is 1 yuan/registered capital, and the total capital increase is 1.7 billion yuan. Panzhihua Huanyu Enterprise Management Partnership (Limited Partnership), the minority shareholder of Anning Titanium Materials, has promised to waive this capital increase right. After the completion of this capital increase, the registered capital of Anning Titanium Materials increased from RMB 500 million to RMB 2.2 billion.
  This capital increase is to increase the capital strength and asset scale of Anning Titanium Materials, help promote the construction and business development of its energy-grade titanium alloy entire industry chain project with an annual output of 60,000 tons, optimize the asset-liability structure, and ensure the realization of the company's grand strategy and grand policy and goal are in line with the company's strategic development plan.