Breton Technology Dilutes Stake in Energy-Saving Unit via Connected Capital Increase
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Breton Technology Co., Ltd. has announced a connected capital increase involving its subsidiary Breton Energy Saving. Three investors, including controlling shareholder Chen Fangming, will inject RMB38 million, raising Breton Energy Saving's registered capital from RMB12 million to RMB50 million. As a result, Breton Intelligent Power's stake in Breton Energy Saving will be diluted from 100% to 24%, leading to its deconsolidation from the group's financial statements. This transaction is classified as a connected transaction under Hong Kong listing rules, streamlining execution without requiring independent shareholders' approval.
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