On November 21, Deye Co., Ltd. (SH:605117) announced its plan to increase capital investment in its wholly-owned subsidiary, Ningbo Deye Energy Storage Technology Co., Ltd., by 651.1407 million yuan. This capital injection into Deye Energy Storage will be funded through the company’s raised capital, with 340 million yuan allocated to registered capital and 311.1407 million yuan to capital reserve.
Deye stated that this capital increase, directed to the entity implementing the fundraising project, does not alter the intended use of the funds or the construction content of the project. It will not substantially impact project execution. The move aims to enhance the efficiency of fund utilization, ensure the steady progress of the projects financed by the raised capital, and aligns with the company’s long-term planning and development strategy. The usage and purpose of the raised capital comply with relevant laws and regulations, serving the interests of the company and all its shareholders.
