The actual controller's concerted parties of Hangzhou Kelin Electric Co., Ltd (688611.SH) intend to increase their shareholding in the company by 25 million to 50 million yuan.

Hangzhou Kelin (688611.SH) announced that its actual controller, acting in concert, Hangzhou Guangyi Investment Management Partnership (Limited Partnership) (referred to as Guangyi Investment), plans to increase its shareholding in the company within 12 months from the announcement of its repurchase plan by using special loans and its own funds. The shares will be purchased through the Shanghai Stock Exchange trading system via a centralized competitive bidding method, with a total intended increase in amount not less than 25 million yuan (inclusive) and not exceeding 50 million yuan (inclusive). China Merchants Bank Co., Ltd. Hangzhou Branch has committed to providing Guangyi Investment with a special loan not exceeding 45 million yuan, with a loan term of 3 years.