Global New Material International Holdings Limited has announced a significant update regarding its subsidiary, Chesir Luzhai. On May 24, 2025, the company entered into a Capital Increase Agreement with Chongqing International Trust Inc. This agreement will result in a capital injection into Chesir Luzhai by Chongqing International, leading to a dilution of the Group's equity interest in the subsidiary. The transaction aims to support business growth in the synthetic mica industry, enhancing marketing initiatives, product quality, sales channels, and production facilities. The company views this transaction as beneficial for its business and shareholders.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.