Kangli Elevator: Intends to reduce the capital of its wholly-owned subsidiary by 30 million yuan

Jinshi data news on October 9th, Kangli Elevator announced that the board of directors has approved the proposal to reduce the capital of its wholly-owned subsidiary, Guangdong Kangli Elevator Co., Ltd. According to the company’s strategic plan, it was decided to reduce the registered capital of Guangdong Kangli from 160 million yuan to 130 million yuan, with a reduction amount of 30 million yuan. This capital reduction does not require approval from the shareholders’ meeting as it falls within the authority of the board of directors. After the reduction, Guangdong Kangli will still be a wholly-owned subsidiary of Kangli Elevator, which will not affect the scope of the consolidated financial statements, nor will it have a significant impact on the company’s financial position and operating results.