On July 23, Guolonghui reported that Shanxi Huaxiang Group (603112.SH) announced plans to increase the capital of WHI Casting with cash in order to better meet customer needs and improve the company's global operational guarantee capability. The company intends to increase capital of 16.05 million US dollars to WHI Casting and HU respectively according to their equity ratios, of which the company will contribute 8.1855 million US dollars from its own funds, and after this capital increase, the company's shareholding ratio will remain at 51%.
This capital increase is to ensure WHI Casting has a stable source of long-term development funds, improve the after-sales service system construction of WHI Casting, accelerate the upgrade of storage capacity, and enhance the company's core competitiveness in the market. This investment in WHI Casting is of great significance for expanding the company's export business, increasing overseas market layout, and enhancing value-added services, which will help consolidate and expand the company's market share in related fields.