Jiangshan intends to acquire 16% of the subsidiary and increase the registered capital of ¥21 million.

Jiangshan announced on September 28 that the company intends to acquire 16% of the equity of Nantong Jiangneng(the company holds 65% equity) held by NETDA for 16 million yuan in cash. At the same time, the other 19% equity held by NETDA Group (counted as 19 million yuan of capital contribution, 19 million yuan of paid-in capital) was transferred to its wholly-owned subsidiary Nantong Neng Da at the price of 19 million yuan. After the transfer, NETDA Group no longer holds the equity of Nantong Jiangneng.

At the same time, the company intends to increase the registered capital by a total of 21 million yuan through its wholly-owned subsidiary Jiangshan Xinneng with 293,000 yuan in cash, 20.7 million yuan of land use rights and above-ground buildings. After the acquisition and capital increase, the registered capital of Jiangneng increased from 100 million yuan to 121 million yuan, and the shareholding ratio of the company and Jiangshan Xinneng combined to hold Jiangneng increased from 65% to 84.30%, and Jiangneng remained a holding subsidiary of the company.