Aoto Electronics announced that the company’s 21st meeting of the fourth board of directors and the 19th meeting of the fourth board of supervisors held on January 25, 2021 reviewed and approved the “About the company’s wholly-owned subsidiary’s capital increase with raised funds “Proposal on Investment Projects”, the board of directors agreed that the company would use the funds raised through non-public offering of shares to the wholly-owned subsidiary Nanjing Aoto Electronic Technology Co., Ltd. (“Nanjing Aoto” or “Subsidiary”), Huizhou Aoto ” or “Subsidiary”) capital increase.
The implementation subjects of the fund-raising projects “Mini LED Intelligent Manufacturing Base Construction Project” and “Smart Outlet Intelligent Integration Capability Improvement Project” are the company’s wholly-owned subsidiaries Huizhou Aoto Electronic Technology Co., Ltd. (“Huizhou Aoto”), Nanjing Aoto Electronic Technology Co., Ltd. (“Nanjing Alto”). In order to improve the efficiency of the use of raised funds, the company intends to raise capital of 40 million yuan and 70 million yuan to Huizhou Alto and Nanjing Alto respectively. Aoto Electronics does not increase its registered capital for the capital increase of the above-mentioned subsidiaries, and all the capital increase is included in the capital reserve as a capital premium, which is exclusively owned by Aoto Electronics. The company still holds 100% equity of Huizhou Alto and Nanjing Alto.
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