Vanfund Urban Investment & Development (000638.SZ) announced that the company recently signed an equity transfer and capital increase agreement with Hebei Waidomei Agricultural Technology Co., Ltd. ('Hebei Waidomei'). Both parties agreed to transfer 40% equity of Jilin Vanfund Majestic Agriculture Industry Development Co., Ltd. ('Vanfund Majestic') to Hebei Waidomei at a price of 1 yuan. After the equity transfer, the company will hold 60% equity of Vanfund Majestic, and Vanfund Majestic will be changed from a wholly-owned subsidiary to a subsidiary controlled by the company. This transaction will not result in any changes in the company's consolidated financial statements.
Vanfund Urban Investment & Development (000638.SZ) announced that the company recently signed an equity transfer and capital increase agreement with Hebei Waidomei Agricultural Technology Co., Ltd. ('Hebei Waidomei'). Both parties agreed to transfer 40% equity of Jilin Vanfund Majestic Agriculture Industry Development Co., Ltd. ('Vanfund Majestic') to Hebei Waidomei at a price of 1 yuan. After the equity transfer, the company will hold 60% equity of Vanfund Majestic, and Vanfund Majestic will be changed from a wholly-owned subsidiary to a subsidiary controlled by the company. This transaction will not result in any changes in the company's consolidated financial statements.
After the completion of the equity transfer, the company will increase the capital of Vanfund Majestic in the same proportion as Hebei Waidomei. After this capital increase, the registered capital of Vanfund Majestic will change from 12.5 million yuan to 15 million yuan, with the company increasing its capital by 1.5 million yuan and holding a 60% stake, and Hebei Waidomei increasing its capital by 1 million yuan and holding a 40% stake.
