On July 12, GeLongHui learned that Biyi Co., Ltd. (603215.SH) plans to increase the capital of its wholly-owned subsidiary Biyi Technology by CNY 35 million with its own funds. After this capital increase, the registered capital of Biyi Technology will increase from CNY 50 million to CNY 85 million. After the capital increase is completed, the company still holds 100% equity of Biyi Technology, which remains a wholly-owned subsidiary of the company. The capital increase can be carried out in stages, and related registration matters will be handled according to the actual amount.

The company used its own funds to increase the capital of its wholly-owned subsidiary based on the construction needs of the Biyi Technology 'Zhongyi Industry Park Intelligent Kitchen Appliance Construction Project'. The project conforms to the company's overall strategic planning, and this capital increase is conducive to the smooth progress of the project.