Titanium Energy Chemical (002145.SZ) plans to increase capital by 3 billion yuan in its wholly-owned subsidiary Baiyin New Materials.

Zhitong Finance APP News, Tioxi Chemical (002145.SZ) announced that in order to further enhance the financial strength and operational capability of its wholly-owned subsidiary Tioxi Chemical Group (Baiyin) New Materials Co., Ltd. ("Tioxi Chemical Group (Baiyin) New Materials Co., Ltd.", formerly known as "Gansu Dongfang Titanium Industry Co., Ltd.", which recently completed the change of its company name due to business operation, management and development needs, referred to as "Baiyin New Materials"), the company's board of directors approved the company to increase the capital of its wholly-owned subsidiary Baiyin New Materials by RMB 3 billion through cash contribution. After the completion of this capital increase, the registered capital of Baiyin New Materials will increase from RMB 1.58 billion to RMB 4.58 billion, and the company will directly hold 100% of its equity.