On the first day of the implementation of the new Company Law on July 1, Huachangda announced that it plans to use the accumulated surplus reserve fund and capital reserve fund of its wholly-owned subsidiary, Shanghai Demac Auto Equipment Manufacturing Co., Ltd., totaling 177 million yuan, and the accumulated surplus reserve fund and capital reserve fund of its parent company, totaling 1.856 billion yuan, to offset the accumulated losses. This will reduce the accumulated surplus reserve fund of Demac and the parent company of Huachangda to zero, and the capital reserve funds will be reduced to 102 million yuan and 51 million yuan, respectively. The accumulated losses will be fully offset.
新公司法生效首日 华昌达或成首家使用资本公积金弥补亏损
On the first day of the new company law taking effect, Huachangda may become the first company to use capital reserve funds to offset losses.
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