Subsidiary of Huakai Yibai Technology (300592.SZ) proposes to increase capital by 120 million yuan to Shenzhen Bixun River.

Huakai Yibai Technology (300592.SZ) announced that its wholly-owned subsidiary, Shenzhen Yibai Network Technology Co., Ltd. (hereinafter referred to as "Yibai Network"), intends to increase its capital by 120 million yuan to Shenzhen Bixunhe Technology Co., Ltd. (hereinafter referred to as "Shenzhen Bixunhe"), using its own funds or raised funds. After the capital increase, Yibai Network will hold 60% of the equity of Shenzhen Bixunhe, making Shenzhen Bixunhe a subsidiary of Yibai Network and included in the listed company's consolidated financial statements. Simultaneously with this capital increase, Shenzhen Bixunhe will, through its wholly-owned subsidiary, Hong Kong Bixunhe Technology Co., Ltd. (hereinafter referred to as "Hong Kong Bixunhe"), use a transaction price of 200 million yuan to acquire core operating assets such as e-commerce platform stores, inventory, intangible assets, accounts receivable and payable, and monetary funds held by Hong Kong Horizon Holdings Limited.