Kunshan Meihongye Metal Products Co., Ltd. announced that it expects to receive CNY 114.3243 million in funding from Beijing Sinnet Technology Co., Ltd and other investor
September 25, 2019
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Kunshan Meihongye Metal Products Co., Ltd. announced that it has entered into capital increase agreement to receive CNY 114,324,300 in an equity round of funding on September 26, 2019. The transaction will include participation from new investors Beijing Sinnet Technology Co., Ltd (SZSE:300383) for CNY 39,729,700 and Jin Fushen for CNY 74,594,600. Out of the total proceeds, CNY 67,826,200 will go into registered capital and CNY 46,498,100 will go into capital reserve of the company. The transaction has been approved in the 5th meeting of the 4th directorate of Beijing Sinnet Technology Co., Ltd (SZSE:300383), and is not subject to approval from its shareholders. The registered capital of the company will increase from CNY 124,588,809.33 to CNY 192,415,000.
Beijing Sinnet Technology Co., Ltd. is a China-based company principally engaged in the provision of integrated Internet services. The Company provides broadband access services, Internet data center (IDC) and value-added services, IDC operation and management services, as well as cloud computing and related services, among others. The Companyâs value-added services include IDC network security services, IDC load balancing services, data flow monitoring services and reverse domain name analysis services, among others. The Company also offers network systems integration services. The Company operates businesses in Beijing, Hebei and Hong Kong.
Kunshan Meihongye Metal Products Co., Ltd. announced that it expects to receive CNY 114.3243 million in funding from Beijing Sinnet Technology Co., Ltd and other investor