Oreto plans to contribute 3.9 million yuan to set up subsidiaries, accounting for 78% of the registered capital

On August 1, 2022, Ore To (870264.NQ) issued an announcement of foreign investment.

The announcement shows that according to the needs of the company's strategic layout and business plan, the company intends to jointly set up a holding subsidiary Chengdu Hainan Energy Technology Co., Ltd., a holding subsidiary of Chengdu Hairui Energy Technology Co., Ltd. 10,000 yuan, of which the company contributed 3.9 million yuan, accounting for 78%of the registered capital, and Chengdu Hairui Energy Technology Co., Ltd. contributed 1.1 million yuan, accounting for 22%of the registered capital. The registration information of the holding subsidiary is subject to the final approval registration of the industrial and commercial administrative department.

According to the "Administrative Measures for the Reorganization of Non -listed Public Companies" and the "Questions and Answers of the Major Asset Reorganization Business" of the listed company: "The listing company increases capital to wholly -owned subsidiaries or holding subsidiaries, newly established wholly -owned subsidiaries or holding subsidiaries, It does not constitute a major asset reorganization ", so this external investment matters do not constitute a major asset reorganization.

On July 29, 2022, the company held the fifteenth meeting of the second board of directors to review and approve the "Proposal for the Establishment of a Holdings Subsidies for Foreign Investment". According to the "Company Articles of Association" and relevant regulations, the above bill does not need to submit it to the shareholders' meeting. Review.

The investment scale, method and shareholding ratio of the company and investors and shareholders are as follows:

Orient said that in order to implement the company's development strategic planning goals, further expand the company's influence in the Southwest oil and gas market, increase the market share of products and services, rationally allocate the company's resources, and enhance the company's comprehensive strength and competitive advantages.

This investment is a cautious decision for the company's long -term strategic layout, but there are still certain operating management risks. The company will establish and improve the governance structure of holding subsidiaries, improve the internal control system and supervision mechanism, clarify business strategies and risk management, and set up good formation The business management team continuously adapts to business requirements and market changes, actively prevent and cope with the above possible risks to ensure the company's investment security and returns.

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