Keliyuan intends to increase the capital of Kelimei by 129 million Yuan

On May 11, Keliyuan announced that it will increase its investment to Kelimei by 2.176 million yen (equivalent to RMB 128.6 million) with its own funds, all of which will be used to increase its registered capital.

Kelimei is principally engaged in the development, manufacture and sale of nickel-hydrogen power battery cells and modules. In 2017, Kelimei achieved a main business income of RMB 830,318,005.10, an operating profit of RMB 47,600,434.45 and a net profit of RMB 51,311,744.35.

It is reported that in order to meet the needs of Kelimei's business development, Kelimei plans to expand the nickel-hydrogen power battery module group project for vehicles. After the expansion of this capacity, Kelimei expects annual production capacity to double that of the original capacity. The total investment of Kelimei will increase from the original 16.32 billion yen to 326.20 million yen. Hunan Keliyuan New Energy Co., Ltd. and other Kelimei shareholders (Changshu Xinzhongyuan Venture Capital Co., Ltd., PrimearthEVEnergy Co., Ltd., Toyota Motor (China) Investment Co., Ltd., Toyota Tsusho Co., Ltd.) plan the same proportion of Kelimei The capital increase was 5.4 million yen (equivalent to approximately RMB 31.5 million), all of which were used to increase the registered capital. Among them, the company will increase its investment to Kelimei by its own funds to 2.176 billion yen (equivalent to RMB 128.6 million). The shareholding ratio of each investor to Kelimei remains unchanged. The registered capital has increased from 5.4 million yen to 1.08 million yen. All funds are used for the construction of the nickel-hydrogen battery module for vehicles. The shortfall will be solved by Kelimei through other means.

Keliyuan said that this capital increase is conducive to expanding the size of Kelimei's capital to adapt to the market's demand for increased demand for its products, which in turn requires increased production capacity. It is conducive to further expanding the scale of production and operation and business development, and driving the production and sales of Hunan Kerba Automotive power battery Co., Ltd., a wholly-owned subsidiary of the company, and Changde Liyuan New Materials Co., Ltd., a holding subsidiary of the company, and further increasing the company's investment income.

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