Original title: Harbin Electric (01133-HK) affiliated Valve Co., Ltd. Source: Caihua Society
[Caihua Social News] Harbin Electric (01133-HK) announced that the company and the valve company, investors (Muling Power Station Valve Co., Ltd., Heilongjiang Province) and employee shareholding platform signed the "Valve Company Capital increase Agreement" on December 21, 2020. according to this, the investor and employee shareholding platform will invest RMB 220 million and 24.4442 million yuan respectively in the valve company in the form of cash contribution to hold equity in the valve company. The total investment of the investor and employee stock ownership platform is 244.4442 million yuan (about HK $289.2899 million).
After this capital increase, the company, investors and employee shareholding platform will hold 45%, 45% and 10% of the valve company respectively. Valve company is still a subsidiary of the company.
This capital increase will help valve companies to obtain external financial support, with the help of capital market forces, concentrate resources to break through the technical barriers of high-end products, and help valve companies to use funds to integrate upstream and downstream enterprise resources and cultivate and strengthen the valve industry. it is beneficial for valve companies to change their operation and management mechanism and activate endogenous power. It is beneficial for the valve company to establish a compensation system model with the combination of contract income and capital income, so that the long-term interests of operators are closely combined with the long-term development of the valve company.
The main business of the valve company is development, production, sales, installation, maintenance and debugging of valves; technical development, technical consultation, technology transfer and technical services of valves and supporting equipment; sales: electric devices, soot blowing equipment, water level measuring devices, temperature and pressure reduction devices, power station auxiliaries; power station system design, foreign product subcontracting, domestic trade; engaged in import and export of goods, technology import and export, etc.
Heilongjiang Muling Power Station Valve Co., Ltd. is mainly engaged in power station valves, boiler auxiliaries, mechanical and electrical products, mechanical processing, tobacco machine accessories.