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I. Overview of the establishment of a wholly-owned subsidiary
1. Company name: Kaifeng Sifangda Superhard Materials Co., Ltd.;
2. Registered capital: RMB 20 million;
3. Business scope: research, development, production, sales of superhard materials, superhard tools, equipment and accessories, industrial investment, technical consulting services, import and export of goods and technology. (Note: The above information is subject to the final registration information.)
Second, the purpose of this investment to establish a subsidiary and the impact on the company
1. The purpose of setting up a subsidiary for this investment
With the advancement of the "Zheng Yu integration" process, Kaifeng and Zhengzhou gradually completed the transformation of "two cities and one family" and realized resource sharing. Well-known enterprises such as "Xinda New Materials, Chery Automobile, Pingmei Group" successively entered Kaifeng. It has effectively promoted the development of modern industry in this historical and cultural city. The company intends to establish a subsidiary in Kaifeng to strategically realize the effective integration of industry chain resources to further promote the rapid expansion of the company's business and the optimal allocation of industry resources, improve the company's profitability, and create more returns for shareholders.
2. The impact of this capital contribution on the company
The company's own funds contributed 2.97% of the company's latest audited net assets, and the subsidiary established by the company is a 100% wholly-owned subsidiary of the company. Therefore, the capital contribution to the company's financial status And the business results have no significant impact.
Sifangda: 20 million investment to establish a wholly-owned subsidiary in Kaifeng
The 16th meeting of the second board of directors of Henan Sifangda Superhard Materials Co., Ltd. (hereinafter referred to as “the companyâ€) was held on the spot on the fourth floor of the company on October 8, 2013 at 9:00 am. The meeting was presided over by Mr. Fang Haijiang, the chairman of the board of directors. The directors of the meeting carefully reviewed the topics of the meeting and passed the “Proposal on the Establishment of a wholly-owned subsidiary†by voting by name. The following resolution was resolved: the board of directors agreed to the company’s own The fund invested 20 million yuan to set up a wholly-owned subsidiary. The situation of establishing a wholly-owned subsidiary is as follows: