Harbin Hachuan New Materials Technology Co., Ltd. announced that it expects to receive CNY 10 million in funding from Anhui Zhongyuan New Materials Co., Ltd.
Harbin Hachuan New Materials Technology Co., Ltd. announced a private placement of CNY 10 million in an equity round of funding from existing investor Anhui Zhongyuan New Materials Co., Ltd. (SHSE:603527) on April 24, 2020. Post closing of the transaction, Anhui Zhongyuan New Materials Co., Ltd. (SHSE:603527) will own 70% stake in the company. The company has registered capital of CNY 5 million. Post the closing, CNY 5 million will be added to the registered capital of the company. The transaction has been approved by board of directors at 16th session of the company’s 3rd directorate.