China Tungsten High-tech 250 million capital increase subsidiary involves ultra-hard materials industry

Abstract On the evening of August 15, Zhongtung Gaoxin (000657) announced that the company had increased its capital and shares to its holding subsidiary Zigong Cemented Carbide Co., Ltd. with a total price of RMB 25,285,340. Self-hardening company business scope: hard alloy,...
On the evening of August 15, Zhongtung High-tech (000657) announced that the company had increased its capital and shares to its holding subsidiary Zigong Cemented Carbide Co., Ltd. with a total price of RMB 25,285,340.

Self-hardening company business scope: production, sales, service and technical consultation, mechanical processing and technical services of cemented carbide, tungsten products, molybdenum products, hard alloy deep-processing products and their supporting tools, non-ferrous metals, super-hard materials, etc. Import and export business.

The company said that this capital increase will help the self-hardening company to improve its financing capacity, reduce transaction costs and optimize the internal corporate governance structure.

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