Haiyouxincai (688680.SH) plans to increase the capital of its subsidiary Taizhou Haiyouwei by 70 million yuan.

In order to meet the business production and operation needs of its wholly-owned subsidiary Taizhou Haiyouwei Applied Materials Co., Ltd. (referred to as "Taizhou Haiyouwei"), Haiyou New Materials (688680.SH) announced that it plans to increase the capital of Taizhou Haiyouwei by 70 million yuan with its own funds or self-raised funds. After this capital increase, the registered capital of Taizhou Haiyouwei will be 150 million yuan, aiming to further enhance the comprehensive competitiveness of its wholly-owned subsidiary.