BBMG Corporation (02009) announced that on December 9, 2024 (after trading hours), the company, Tianjin Education Investment...
According to Zhitong Finance APP, BBMG Corporation (02009) announced that on December 9, 2024 (after trading hours), the company, Tianjin Education Investment, and the symbol company (Tianjin Building Materials Group (Holding) Co., Ltd.) entered into a capital reduction agreement, regarding Tianjin Education Investment's reduction of the registered capital of the symbol company by approximately 1.001 billion yuan.
Before the capital reduction, the symbol company was a non-wholly owned subsidiary of the company, with the company and Tianjin Education Investment holding approximately 66.816% and 33.184%, respectively. After the capital reduction, the registered capital of the symbol company will be reduced from approximately 5.082 billion yuan to approximately 4.081 billion yuan, with the company and Tianjin Education Investment holding approximately 83.208% and 16.792%, respectively. After the capital reduction, the symbol company will remain a subsidiary of the company, and Tianjin Education Investment will still be the main Shareholder of the symbol company. After the capital reduction, the financial performance of the symbol group will continue to be consolidated into the group's consolidated financial statements.
After the capital reduction is completed, the company will become the absolute controlling Shareholder of the symbol group, obtaining more seats on the board of directors and supervisors, which is beneficial for enhancing the decision-making power on significant operational matters of the symbol group, ensuring that decision content is quickly and effectively implemented, and facilitating the company's further comprehensive and unified management of the symbol group in terms of development direction, operational goals, risk control, and other aspects.