Jiangmen Kanhoo Industry (SHE:300340) related party Gree Supply Chain is set to convert its 200 million yuan debt into equity in company subsidiary Shenzhen Haoneng.
The move aims to optimize Shenzhen Haoneng's capital structure, according to a filing with the Shenzhen bourse.
Post-transaction, Jiangmen Kanhoo Industry's stake in Shenzhen Haoneng will dilute to 66.8%, while Gree Supply Chain will acquire a 33.2% stake.
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