Bichamp Cutting Technology announced on the evening of March 21 that in order to further improve the industrial layout of the company's cutting segment, its wholly-owned subsidiary Hunan Bichamp Alloy Material Technology Co., Ltd. plans to increase its capital and expand its shares. The company's headquarters management team and core business backbones, as well as the cutting business management team and core business backbones, intend to establish a shareholding platform to participate in this capital increase and share expansion of Bichamp Alloy. The management team's capital increase platform plans to contribute RMB 10.1 million in cash to subscribe for the newly registered capital of RMB 10 million. The company waives its preferential subscription rights for this capital increase and share expansion. After the transaction is completed, the company and the management team's capital increase platform will hold 75% and 25% of the equity of Bichamp Alloy, respectively