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Shanghai Baolong Automotive Corporation (603197.SH): Plans to increase investment in its subsidiary to implement fundraising projects.
Gelonghui December 3rd 丨 Shanghai Baolong Automotive Corporation (603197.SH) announced that according to the plan for the use of funds for this investment project, the implementation body of the investment project 'Air Suspension System Intelligent Manufacturing Expansion Project' is the company's wholly-owned subsidiary Hefei Baolong, wholly-owned subsidiaries Anhui Longwei, and Top Science. In order to ensure the smooth implementation of the investment project, the company plans to use the raised funds to increase the capital of its wholly-owned subsidiaries Hefei Baolong and Ningguo Baolong by 450 million yuan and 355 million yuan respectively, and through its wholly-owned subsidiary Ningguo Baolong, use the raised funds to increase the capital of its wholly-owned subsidiaries Anhui Longwei and Top Science by 27 million yuan each.
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