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2025-09-15 16:30:23
Lao Feng Xiang's subsidiaries are investing in the gold industry chain and luxury goods market. (1) Lao Feng Xiang announced that its controlling subsidiary, Lao Feng Xiang Jewelry Research Institute, plans to jointly invest 50 million yuan with Cuilv Holdings and Shanghai Xinpai to establish Shanghai Lao Feng Xiang Fine Materials Technology Development Co., Ltd. (tentative name). (2) The three parties will hold 70%, 15%, and 15% stakes, respectively. The total investment in the project is expected to be no more than 215 million yuan, with some funds to be financed through debt financing. (3) The project aims to improve the gold industry chain, enhance product value-added, and strengthen supply chain autonomy. (4) On the same day, Lao Feng Xiang Jewelry Research Institute decided to increase its registered capital from 16.15 million yuan to 50 million yuan by converting 33.85 million yuan of surplus reserves. (5) This capital increase aims to facilitate the subsidiary's application to the Shanghai Gold Exchange for gold refining status, allowing it to engage in scrap gold recycling and other businesses. (6) Lao Feng Xiang also announced that its controlling subsidiary, Shanghai Lao Feng Xiang Co., Ltd., and Lao Feng Xiang Diamond Processing Center plan to jointly invest 50 million yuan to establish Lao Feng Xiang Luxury Products Sales Co., Ltd. (tentative name). 7. Lao Feng Xiang Limited invested RMB 40 million for an 80% stake, while Lao Feng Xiang Diamond Processing Center invested RMB 10 million for a 20% stake. 8. This investment aims to enhance the brand's image and value and expand into the mid- to high-end market. 9. All of the above projects require registration and related approval procedures and are subject to market, policy, and operational management uncertainties.
