Shanghai Cambridge Communication Equipment Co., Ltd. announced that it expects to receive CNY 195 million in funding from CIG ShangHai Co., Ltd.
April 16, 2020
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Shanghai Cambridge Communication Equipment Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 195 million on April 17, 2020. The transaction will include participation from returning investor CIG ShangHai Co., Ltd. (SHSE:603083) who will continue to retain 100% stake in the company. The transaction has been approved by the 23rd meeting of the 3rd directorate, 17th meeting of the 3rd board of supervisors of the investor and does not need to be submitted for its shareholders for approval. Prior to the transaction, the registered capital of the company is CNY 10 million.
CIG Shanghai CO., LTD. is a China-based company principally engaged in the research and development, manufacture and sales of Information Communications Technology (ICT) end products. The Company's main products include telecom broadband terminals, wireless networking equipment, smart home gateways, as well as industrial Internet of Things and solutions. The Company's products are mainly applied in home, enterprises and industrial fields. The Company distributes its products within domestic market and to overseas markets.
CIG SHANGHAI CO., LTD. 
