Guangzhou Yuexiu Financial Leasing Co., Ltd. received a capital injection of 1.5 billion Chinese yuan, it said in a Feb. 27 release.
Guangzhou Yuexiu Financial Holdings Group Co. Ltd. contributed about 1.05 billion yuan of the funds while Chengtuo Ltd. provided about 450 million yuan. The two companies own stakes of 70.06% and 29.94%, respectively, in Guangzhou Yuexiu Financial Leasing, which remain unchanged following the exercise.
The capital infusion is expected to boost Guangzhou Yuexiu Financial Leasing's competitiveness and risk management capabilities.
This is the first of two such injections totaling 3 billion yuan approved by its board Feb. 23.
As of Feb. 27, US$1 was equivalent to 6.32 Chinese yuan.
