On the evening of January 17, Hemai Co., Ltd. announced that the company plans to use no more than 55 million yuan of over-subscribed funds to provide a loan to its wholly-owned subsidiary Zhejiang Hengming Electronics Co., Ltd. to acquire 100% of the equity of Hangzhou Hangkai Lvxing Environment Co., Ltd. (referred to as "Lvxing Environment") and continue to build the Lvxing Environment factory to expand the production capacity of inverter products to meet the company's existing business expansion needs.
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