China's 152 million yuan to increase the capital

October 8, China's largest power transmission equipment manufacturers-China's electricity (601179.SH) issued a notice that company cash investment of 152 million yuan to complete the Sichuan Shu can Electric Appliance Co., Ltd. (hereinafter referred to as Shu electrical) unilateral increase in capital matters, increased capital after the SHU can register for electrical appliances from 30 million to 100 million yuan,　　China has 51 million yuan in power, the shareholding ratio of 51%, Sichuan Shu Electric Group Co., Ltd. (hereinafter referred to as Shu Electric group) holding 49 million yuan, the shareholding ratio of 49%. August 11, China and Shu Electric Power group signed an increase in capital expansion agreement. China's electricity from the west to the SHU energy to increase capital, accounting for the new company registered 51%.　　After the increase in capital, Shu electrical appliances will be renamed as Chengdu Power Transformer Co., Ltd.　　According to the company, Chengdu Power Transformer Co., Ltd. will be as an important part of the southwest distribution of the western transformer industry in China, and will give full support to key projects such as 110kV transformer upgrading, energy saving and environmental protection, production of amorphous alloy transformers and the cultivation of 220kV transformer manufacturing capacity. China's power to the west, said the increase will complete the company's transformer plate in the Southwest region layout, and improve the company in the transformer plate product portfolio.　　The company's project to the postpartum, the estimated production capacity of all types of transformers amounted to 11 million KVA, can achieve operating income of 1 billion yuan.　　Before the increase in capital, Shu can electrical appliances is a wholly-owned subsidiary of Shu Electric Group, is also the original MEW, machinery department fixed-point production of power transformers professional manufacturers, engaged in professional production of Transformers up to more than 30 years.　　Shu Electrical appliances at the end of 2009 total assets of 330 million yuan, shareholder equity of 140 million yuan, operating income of 290 million yuan, the total profit of 30.94 million yuan. China's first half of the main revenue income 6.658 billion yuan, an increase of 17.29%.　　Switching products operating income 2.051 billion yuan, down 9.31%, transformer products operating income of 2.206 billion yuan, an increase of 1.84% per cent. The main sources of income from China's west-West business are high-voltage switches and transformers, whose revenues exceed 60% of the company's total income.