Shenzhen Gongjin Electronics Co., Ltd. announced that it expects to receive CNY 1.7654725 billion in funding
May 19, 2020
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Shenzhen Gongjin Electronics Co., Ltd. announced a private placement of not more than 230,000,000 A shares for gross proceeds of not more than CNY 1,765,472,500 on May 20, 2020. The transaction will include participation from not more than 35 investors, including securities investment fund management companies, securities companies, trust investment companies, financial companies, insurance institutional investors, qualified foreign institutional investors and other institutions Specific objects such as investors and natural persons. The transaction has been approved at the 25th meeting of the 3rd supervisory committee and 29th meeting of the 3rd directorate. The transaction is subject to approval from company's shareholders' meeting and China Securities Regulatory Commission. The shares issued in the transaction will be subject to a six month hold period. The validity period of the transaction is 12 months. The par value of share is CNY 1 per share. The new investors can subscribe for not more than 120,000,000 shares in the transaction.
SHENZHEN GONGJIN ELECTRONICS CO.,LTD is a China-based company principally engaged in the manufacture of broadband communication terminals. The Company is primarily engaged in the research and development, manufacture and sales of broadband communication terminals to communication equipment suppliers. The Company primarily produces asymmetric digital subscriber line (ADSL) terminals, very high speed digital subscriber line (VDSL) terminals, optical access terminals, Wi-Fi terminals and 3G terminals, as well as other broadband communication terminals. The Company distributes its products within domestic market and to overseas market.
SHENZHEN GONGJIN ELECTRONICS CO., LTD. 
