July 5 -- Kaiser (China) Holding (002425), a company which produces leather and non-leather apparel and shoes, intends to inject 59.85 million yuan into Guangzhou Jisheng Leather and Garment, reports China Securities Journal, citing a company filing.

After the capital injection, Kaiser Holding will hold a 51.22 percent stake in Guangzhou Jisheng Leather and Garment.

According to the filing, Kaiser Holding may use 45 million yuan of the excess funds raised and 14.85 million yuan of self-owned capital to invest in Jisheng Leather and Garment.

Of the total investment, 10.5 million yuan will be added to Jisheng’s registered capital and 49.35 million yuan will be added to its capital surplus.

Guangzhou Jisheng Leather and Garment currently has 90 sales outlets nationwide. It is a distributor for Kaiser, Pal Zileri, Pal Zileri Concept and Lab Pal Zileri.

Jisheng Leather and Garment reported net profit of 2.97 million yuan and sales revenue of 20.2 million yuan in the first quarter of 2011.

The original shareholders, Dong Lvhua and Xie Hailiang, predicted net profit of 7.7 million yuan for the company in 2011, 10.38 million yuan in 2012 and 13.98 million yuan in 2013.