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Shuanghuan Technology (000707.SZ) plans to inject 200 million yuan into Hongyi Company, as well as provide fixed assets. Author/Source: Date: 2022-06-01 Clicks: 21. Shuanghuan Technology (000707.SZ) issued a announcement stating that Yicheng Hongyi Chemical Technology Co., Ltd. (referred to as “Hongyi Company”) is an enterprise jointly invested in by the company, Hubei Hongtai Huachuang Innovation and Development Investment Co., Ltd. (referred to as “Huachuang Company”), Hubei Yihua Group Co., Ltd. (referred to as “Yihua Group”), Hubei Gaocheng Fengfeng Entrepreneurship Investment Co., Ltd. (referred to as “Gaocheng Fengfeng”), and Henan Jinshan Holdings Co., Ltd. (referred to as “Jinshan Holdings”). This enterprise is mainly engaged in the construction of projects for the upgrading of ammonia synthesis facilities. Among them, Shuanghuan Technology invested 2 million yuan and holds 2.857% of the shares in Hongyi Company. In line with its business strategy and development objectives, and in order to meet the funding needs for the upgrade and renovation project of Hongyi Company’s ammonia synthesis facilities, the company, together with Yihua Group, Huachuang Company, Hubei New Energy Industry Investment Fund Partnership (Limited Partnership) (referred to as “New Energy Industry Fund”), and Hubei Science and Innovation Hongtai Zero Degree High-End Manufacturing Investment Fund Partnership (Limited Partnership) (referred to as “Zero Degree Fund”), increased its capital investment in Hongyi Company and signed the “Second Capital Increase Agreement for Yingcheng Hongyi Chemical Technology Co., Ltd.” The company plans to contribute 200 million yuan in cash and fixed assets. The details of the fixed assets to be used for this purpose are as follows: 1. The fixed assets that the company intends to use for capital increase are the equipment related to liquid nitrogen storage owned by the company, totaling 16 items, including semi-frozen liquid nitrogen storage tanks, refrigeration units, liquid nitrogen loading/unloading equipment, and other associated devices. 2. The ammonia storage facility used for this capital increase was put into operation in 2019 and was used by Shuanghuan Technology itself until July 31, 2021; after August 1, 2021, it was leased to Yingcheng Yihua Chemical Co., Ltd. for the production of synthetic ammonia.