Shenzhen Autel Hechuang Software Development Co., Ltd announced that it expects to receive CNY 85.2858 million in funding from Autel Intelligent Technology Corp., Ltd.
October 25, 2020
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Shenzhen Autel Hechuang Software Development Co., Ltd announced that it will receive CNY 85,285,800 in an equity round of funding on October 26, 2020. The transaction will include participation from returning investor Autel Intelligent Technology Corp., Ltd. (SHSE:688208), which will retain its 100% stake in the company. The transaction was approved by fourth meeting of the third board of directors and the fourth meeting of the third board of supervisors of the investor and does not need approval from shareholders meeting. Out of the total proceeds CNY 80,000,000 will go towards registered capital and CNY 5,285,800 will go towards capital reserve. The registered capital of the company will increase from CNY 20,000,000 to CNY 100,000,000.
Autel Intelligent Technology Corp., Ltd. is a China-based company mainly engaged in automotive intelligent business. The Company's business includes research, development, manufacturing, sales and service of automotive intelligent diagnostics, detection and analysis systems and automotive electronic components. Its main products include comprehensive automotive diagnostic products, Tire Pressure Monitoring System (TPMS) series products, Advanced Driving Assistant System (ADAS) series products and other products, as well as offering in various products Car intelligent repair cloud service. The Company's products are mainly sold to more than 50 countries and regions including the United States, Germany, the United Kingdom, and Australia.
Shenzhen Autel Hechuang Software Development Co., Ltd announced that it expects to receive CNY 85.2858 million in funding from Autel Intelligent Technology Corp., Ltd.
AUTEL INTELLIGENT TECHNOLOGY CORP., LTD. 
