Summary by Moomoo AI
On June 21, 2024, Hongteng Precision Technology Co., Ltd. ("Hongteng Precision") announced plans to carry out a series of capital injections to strengthen its global business structure. First, Hongteng Precision will inject €30,000,000 (approximately $32,484,000) into its wholly-owned subsidiary, Foxconn Interconnect Technology Singapore Pte. Ltd. ("FIT Singapore"). Afterwards, FIT Singapore will inject an equal amount of capital into its wholly-owned subsidiary, Foxconn Interconnect Technology GmbH ("FIT GmbH"). Finally, FIT GmbH will inject this capital into its wholly-owned subsidiary, FIT Voltaira Group GmbH. This move aims to further consolidate Hongteng Precision's market position and business development. The board of directors, led by Chairman Lu Songqing, includes Executive Director Lu Boqing, Mr. Chester John Pipkin, non-executive directors Mr. Zhang Chuanwang and Ms. Huang Bijun, as well as independent non-executive directors Mr. Peter D. Curwen, Mr. Deng Guizhang, and Mr. Chen Yongyuan.