# Wetown Electric to invest 80 million yuan in subsidiary for switchgear project

Wetown Electric Group Co., Ltd. (688226.SH) announced it will use 80 million yuan of raised funds to increase capital in its wholly-owned subsidiary Wetown Electric Power, for the project 'Annual output of 2,000 sets of intelligent medium-voltage switchgear and 63,000 smart low-voltage electrical appliances'.

- Type: Investment
- Announced: 2021-07-26
- Where: China
- Value: $12.3M (80.0M CNY)
- Status: announced
- Capacity: 2000 sets of intelligent medium-voltage switchgear and 63,000 smart low-voltage electrical appliances per year
- Products: intelligent medium-voltage switchgear, smart low-voltage electrical appliances
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Wetown Electric Group](https://endata.com/companies/56655.md)
- [Wetown Electric Power](https://endata.com/companies/56656.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/521292.html), 2021-07-26: "公司拟使用募集资金8000万元对全资子公司威腾电力进行增资，用于实施募投项目“年产2000套智能化中压成套开关设备及63,000台智能型(可通信)低压电器项目”。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.