Consolidating Capital Strength: SIG's Registered Capital Increases to 30 Billion Yuan
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To further enhance the strength and image of SIG, practically advance financial holding group building, promote the development of SIG's capital operation and investment business, and better serve major national and municipal strategies, SIG started capital increase and worked out the scheme to convert capital reserves into registered capital in early August.
On September 11, the Shanghai Municipal State-owned Assets Supervision and Administration Commission (SHSASAC) approved the scheme to convert capital reserves into registered capital. On September 15, SIG completed capital verification. On September 18, SHSASAC approved SIG to revise its articles of association. On September 27, SIG obtained the Property Right Registration Certificate of State-funded Enterprise. On September 28, SIG obtained a new business license, increasing its registered capital from 10.55884 billion yuan to 30 billion yuan.
With the strong support of SHSASAC and the concerted efforts of SIG's departments, SIG has completed capital increase, which further consolidates SIG's capital strength, improves and enlarges state-owned capital, and lays a solid foundation for the high-quality development of SIG.
