Mu Lin Senchao 4.1 Billion Capital Increase Three Subsidiaries, The Executive General Manager Resigned
- Feb 02, 2019 -

This morning, wood linsen issued two announcements, one on the subsidiary capital increase, another on personnel changes.


According to the announcement, wooden Tomlinson at the 31st session of the third session of the board of directors review and passed on the company a wholly owned subsidiary to the capital increase of bill, a wholly owned subsidiary company through its own funds to agree to zhongshan wood Tomlinson electronics co., LTD., ultimately capital amount of 1.795 billion yuan, after the capital increase of zhongshan wood Tomlinson electronics co., LTD. Registered capital increased from 5 million yuan to 1.8 billion yuan.


At the same time, the company intends to increase the capital of its wholly-owned subsidiary ji 'an mu linsen photoelectric co., LTD. The amount of the increase is RMB 205,6826,700 yuan. After the increase, the registered capital of ji 'an mu linsen photoelectric co., LTD. Will increase from RMB 124,3173,300 yuan to RMB 330,000 yuan.


In addition, the company intends to increase the capital of its wholly-owned subsidiary zhongshan mullinsen optoelectronics co., ltd. by RMB 28,000 yuan. After the increase, the registered capital of zhongshan mullinsen optoelectronics co., ltd. will increase from RMB 50 million yuan to RMB 33 million yuan.

The three capital increases totaled 413,182.67 billion yuan.


Mu linsen said that the capital increase is conducive to the wholly-owned subsidiaries of mu linsen electronics, ji 'an mu linsen and mu linsen optoelectronics to improve and adjust the asset structure, enhance their own operational capacity, help promote the further development of their business, in line with the company's business development strategy.

The capital source of this capital increase is the self-owned capital of mulinsen. After the capital increase is completed, mulinsen electronics, ji 'an mulinsen and mulinsen photoelectric will still be a wholly-owned subsidiary of the company, which will not affect the scope of the company's consolidated statements.

After the capital increase, the development of mu linsen electronics, ji 'an mu linsen and mu linsen optoelectronics will still be affected by the market outlook and industry policy changes and other objective factors.


Meanwhile, the board of directors of the company has recently received a written application from Mr. Lin jiliang, the executive general manager of the company, to resign as a senior manager of the company, according to a separate announcement from mullinson.


Mr. Lin jiliang applied to resign as the executive general manager of the company due to his refocus on overseas business.

Mr. Lin jiliang will continue to hold important positions in the company's overseas subsidiaries after his resignation as executive general manager.