Hippocampus shares increased capital to commercial vehicles 2.5 billion

Hippocampus shares (000572) 18th announcement, according to the non-public issue of the motion, the company will be wholly-owned subsidiary-Seahorse Business Automobile Co., Ltd. to increase capital, the total amount of capital increase of not more than 2.5 billion yuan, all the additional funds for the hippocampus business 150,000 car technical renovation project. The hippocampus shares the 2009 annual general Meeting of shareholders to consider the adoption of the company's Non-public issue of shares related bills.　　The meeting agreed that the company will raise not more than 3 billion yuan in the way of non-public offering of shares, after deducting the issue fee, all of them are used in 150,000 automobile technical renovation projects of the Hippocampus Business Automobile Co., Ltd. and the new product development project of the Hippocampus (Zhengzhou) Automobile Co., Ltd. Hippocampus shares introduced, hippocampus business existing 60,000 vehicle capacity, February 2009 production, the November to achieve the design capacity. In view of the current capacity of the hippocampus business is far from enough to meet market demand, the need to expand capacity as soon as possible.