BRETON (01333) announced that on April 21, 2026, its non-wholly-owned subsidiary, BRETON Smart Power, and its indirect subsidiary, BRETON Energy Conservation, entered into a capital increase agreement with investors. Under the agreement, Mr. Chen Fangming will contribute 14.25 million yuan, Mr. Zhou Xi will contribute 21.25 million yuan, and Mr. Xiong Zhongren will contribute 2.5 million yuan, totaling 38 million yuan in cash to increase the capital and expand the shares of BRETON Energy Conservation.
Prior to this capital increase, BRETON Energy Conservation was an indirect subsidiary of the company. Following the completion of the capital injection, the registered capital of BRETON Energy Conservation will rise from 12 million yuan to 50 million yuan. BRETON Smart Power's stake in the target company will decrease from 100% to 24%, and the target company will no longer be a subsidiary of BRETON. Its financial results will consequently be excluded from the group's consolidated financial statements.
The announcement stated that this capital increase aligns with the strategic development plans of both the group and the target company. It will help strengthen the target company's capital base, optimize its equity structure, and improve corporate governance. Bringing in investors as strategic partners will provide the target company with additional industrial resources—including mine area operations, mining rights acquisition, and mining talent—along with financial support. This move is conducive to focusing on business development and market expansion within the mining sector, enhancing independent growth capabilities. The expansion into mining area markets will facilitate the introduction and demonstration of the company's zero-carbon mine solutions, thereby creating significant synergistic effects.
It is reported that the target company's primary business activities include energy storage technology services, photovoltaic power generation equipment leasing and sales, solar power technology services, manufacturing and sales of smart power transmission and distribution control equipment, research and development of power distribution switch control equipment, manufacturing and sales of mining machinery, manufacturing and sales of smart vehicle equipment, and sales and technical services related to new energy vehicles.
After the capital increase is completed, the company plans to rename itself "BRETON Future Mining (Shanghai) Co., Ltd." (subject to approval by the industrial and commercial system) and will concentrate on mining-related businesses. Mr. Chen Fangming serves as the company's chairman, general manager, executive director, and controlling shareholder. Mr. Zhou Xi and Mr. Xiong Zhongren are both third parties independent of the company and its connected persons.
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