Eindec Corp. Ltd. (SG:42Z) has released an update.
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Eindec Corporation Limited has announced that its subsidiary, Eindec (Shenzhen) Environmental Technology Co., Ltd., completed a capital reduction exercise on April 16, 2024, to comply with new statutory requirements in China. This initiative adjusted Eindec Shenzhen’s registered capital from RMB 20 million to RMB 3 million and its paid-up capital from RMB 8 million to RMB 3 million, with the excess capital to be returned to its holding company. The move is not expected to materially affect the Group’s earnings per share or net tangible assets for the financial year.
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