CSI Intelligent Financial News Zhejiang Linuo (300838) noon announcement on May 7thFreespinssignupRecently, Longyou Crete Machinery and equipment Co., Ltd. (Crete Machinery), a subsidiary of the company, has completed the relevant industrial and commercial change registration procedures and obtained a "business license". As of the date of disclosure of this announcement, the company has completed a capital increase of 2456 in accordance with the contract.FreespinssignupA payment of .33 million yuan.

Previously, the board of directors agreed to Zhejiang Linuo to invest in Crete Machinery in the form of a capital increase to acquire a 51% stake in Crete Machinery and eventually indirectly hold a 51% stake in Crete Group Co., Ltd. After the completion of the capital increase, Crete Machinery will become a holding subsidiary of the company and will be included in the consolidated statement.

Crete Machinery business scope includes general valve and cock manufacturing (excluding special equipment manufacturing), valve and cock and mechanical and electrical equipment sales. The announcement said that the foreign investment funds come from their own funds, will not have a significant impact on the company's financial and operating status, in line with the company's current strategic planning and business development needs.

Zhejiang Linuo is mainly engaged in the R & D, production and sales of industrial control valves, which can design and produce control valve products suitable for different industries and different market needs, and provide personalized, diversified and systematic control valve solutions.

In 2023, the company achieved total revenue of 11Freespinssignup.11 billion yuan, up 9.71 percent over the same period last year; net profit returned to the mother was 107 million yuan, up 0.24 percent over the same period last year; deducting 102 million yuan from non-net profit, up 10.18 percent over the same period last year; during the reporting period, Zhejiang Linuo basic earnings per share was 0.78 yuan, and the weighted average return on net assets was 11.18 percent. The annual profit distribution plan of the company in 2023 isFreespinssignupIt is proposed to distribute 2.5 yuan (including tax) to all shareholders for every 10 shares.

(article source: China Securities News, China Securities Network)