Zhejiang Chenfeng Technology (603685.SH) plans to increase the capital of its wholly-owned subsidiary Beiwang Zhisuan by 90 million yuan.

Zhejiang Chenfeng Technology (603685.SH) announced that the company is deepening its focus on incremental distribution network and new energy station development businesses. In order to further expand into the field of electric-power integrated computing (low-price green electricity + computing power), the company aims to create an integrated new ecology based on incremental distribution networks merging green electricity with computing power. This will enrich the scenarios for green electricity consumption, promote business upgrades and diversification. The company plans to inject 90 million RMB of its own funds to fully fund its subsidiary, Beiwang Zhi Suan, increasing the registered capital of Beiwang Zhi Suan from 30 million RMB to 120 million RMB. After the capital increase, Beiwang Zhi Suan will continue to be a fully owned subsidiary of the company.