According to the Zhitong Finance App, Binhai Energy (000695.SZ) announced that Xuyang Group Co., Ltd. (“Xuyang Group”), the controlling shareholder of the company, plans to increase the capital of the company's subsidiary Inner Mongolia Xiangfu New Energy Co., Ltd. (“Xiangfu New Energy”) by 507 million yuan. The company relinquishes priority subscription rights for this capital increase. After the capital increase of Xiangfu New Energy is completed, the company's holding ratio will be changed to 51.50%, the shareholding ratio of Xuyang Holdings Co., Ltd. will be changed to 29.86%, and the shareholding ratio of Xuyang Group will be 18.64%. The controlling shareholder increased capital for the company's subsidiary, Xiangfu New Energy, and will supplement its working capital for new energy business development, technology research and development, anode material projects, and the construction of supporting source network load storage green power projects, which will help it rapidly expand production capacity.

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