[Cheng Shin] The company's Board of Directors has approved a cash capital increase for Maxxis Rubber India Private Limited
Taiwanese tire giant Cheng Shin (Maxxis) has decided to conduct a cash capital increase equivalent to approximately NT$630 million for its Indian subsidiary, Maxxis Rubber India Private Limited. The purpose is to repay loans and supplement working capital.
📋 Article Processing Timeline
- 📰 Published: May 13, 2026 at 09:00
- 🔍 Collected: May 14, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 14, 2026 at 20:14 (12h 14m after Collected)
1. Name and nature of the subject matter (for preferred stocks, specify the issuance conditions, such as dividend rate): Cash capital increase for Maxxis Rubber India Private Limited
2. Date of occurrence of the event: 2026/5/13~2026/5/13
3. Date of board of directors' approval: May 13, 2026
4. Other approval dates: Not applicable
5. Transaction quantity, price per unit, and total transaction amount: This capital increase is for INR 1,900,000,000. The company plans to invest INR 1,899,984,610, equivalent to approximately NT$631,744,883. (INR:NTD=1:0.33250)
6. Counterparty of the transaction and its relationship with the company (if the counterparty is a natural person and not a related party, their name may be omitted): A subsidiary of the company.
7. For transactions with related parties, reasons for selection and previous transfer details: Not applicable.
8. If the subject matter was owned by a related party in the last five years, details of acquisition and disposal: Not applicable.
9. Matters related to the disposal of claims (including type of collateral, and if against a related party, their name and book value of the claim): Not applicable.
10. Profit (or loss) on disposal (not applicable for acquiring securities) (deferred items should be listed): Not applicable.
11. Delivery or payment terms, contractual restrictions, and other important agreements: Investment from own funds in Maxxis Rubber India Private Limited. Total amount INR 1,899,984,610, equivalent to approx. NT$631,744,883. (INR:NTD=1:0.33250)
12. Decision-making process, basis for price determination, and decision-making unit: Audit Committee and Board of Directors
13. Net value per share of the target company for acquisition or disposal of securities: Not applicable
14. Accumulated holding (including this transaction) of the securities: quantity, amount, shareholding ratio, and any restrictions on rights (e.g., pledges): Accumulated investment of INR 25,489,793,440 (including this investment), equivalent to approx. NT$8,968,845,317. Shareholding 99.99919%.
15. As of now, the ratio of securities investment (including this transaction) under Article 3 of the "Regulations Governing the Acquisition and Disposal of Assets by Public Companies" to total assets and equity attributable to owners of the parent in the latest financial statements, and the amount of working capital in the latest financial statements (Note 2): Securities investment to total assets: 82.91%; Securities investment to parent's equity: 126.45%; Working capital amount: -NT$6,155,704,501.
16. Broker and brokerage fees: Not applicable.
17. Specific purpose or use of the acquisition or disposal: To be used for loan repayment and to meet working capital needs.
18. Opinions of dissenting directors: None.
19. This transaction is a related party transaction: Yes
20. Date of approval by supervisors or audit committee: May 13, 2026
21. Accountant's opinion on reasonableness: Not applicable
22. Name of accounting firm: Not applicable
23. Name of accountant: Not applicable
24. Accountant's practicing certificate number: Not applicable
25. Does it involve a change in business model: No
26. Explanation of business model change: Not applicable.
27. Transactions with the counterparty in the past year and expected in the next year: Investment from own funds in Maxxis Rubber India Private Limited. Total amount INR 1,899,984,610, equivalent to approx. NT$631,744,883.
28. Source of funds: Own funds
29. Date of previous material information release on the same event: Not applicable
30. Other explanatory matters: None
2. Date of occurrence of the event: 2026/5/13~2026/5/13
3. Date of board of directors' approval: May 13, 2026
4. Other approval dates: Not applicable
5. Transaction quantity, price per unit, and total transaction amount: This capital increase is for INR 1,900,000,000. The company plans to invest INR 1,899,984,610, equivalent to approximately NT$631,744,883. (INR:NTD=1:0.33250)
6. Counterparty of the transaction and its relationship with the company (if the counterparty is a natural person and not a related party, their name may be omitted): A subsidiary of the company.
7. For transactions with related parties, reasons for selection and previous transfer details: Not applicable.
8. If the subject matter was owned by a related party in the last five years, details of acquisition and disposal: Not applicable.
9. Matters related to the disposal of claims (including type of collateral, and if against a related party, their name and book value of the claim): Not applicable.
10. Profit (or loss) on disposal (not applicable for acquiring securities) (deferred items should be listed): Not applicable.
11. Delivery or payment terms, contractual restrictions, and other important agreements: Investment from own funds in Maxxis Rubber India Private Limited. Total amount INR 1,899,984,610, equivalent to approx. NT$631,744,883. (INR:NTD=1:0.33250)
12. Decision-making process, basis for price determination, and decision-making unit: Audit Committee and Board of Directors
13. Net value per share of the target company for acquisition or disposal of securities: Not applicable
14. Accumulated holding (including this transaction) of the securities: quantity, amount, shareholding ratio, and any restrictions on rights (e.g., pledges): Accumulated investment of INR 25,489,793,440 (including this investment), equivalent to approx. NT$8,968,845,317. Shareholding 99.99919%.
15. As of now, the ratio of securities investment (including this transaction) under Article 3 of the "Regulations Governing the Acquisition and Disposal of Assets by Public Companies" to total assets and equity attributable to owners of the parent in the latest financial statements, and the amount of working capital in the latest financial statements (Note 2): Securities investment to total assets: 82.91%; Securities investment to parent's equity: 126.45%; Working capital amount: -NT$6,155,704,501.
16. Broker and brokerage fees: Not applicable.
17. Specific purpose or use of the acquisition or disposal: To be used for loan repayment and to meet working capital needs.
18. Opinions of dissenting directors: None.
19. This transaction is a related party transaction: Yes
20. Date of approval by supervisors or audit committee: May 13, 2026
21. Accountant's opinion on reasonableness: Not applicable
22. Name of accounting firm: Not applicable
23. Name of accountant: Not applicable
24. Accountant's practicing certificate number: Not applicable
25. Does it involve a change in business model: No
26. Explanation of business model change: Not applicable.
27. Transactions with the counterparty in the past year and expected in the next year: Investment from own funds in Maxxis Rubber India Private Limited. Total amount INR 1,899,984,610, equivalent to approx. NT$631,744,883.
28. Source of funds: Own funds
29. Date of previous material information release on the same event: Not applicable
30. Other explanatory matters: None