Xian Aidewansi Medical Technology Co., Ltd. announced that it expects to receive CNY 74.44 million in funding from Changchun High & New Technology Industries Inc., and other investors.
As part of the transaction, existing investor, Shaanxi Industrial Technology Research Institute will transfer 3,000,000 shares in the company. As part of the second stage, the transaction will include participation from new investors, Changchun High & New Technology Industries (Group) Inc., Jilin National Biological Industry Venture Capital Co., Ltd., and Beijing Galaxy Luckystar VC Company Limited for CNY 26,000,000, CNY 14,000,000, and CNY 1,000,000 respectively. As part of the transaction, the company will transfer CNY 13,670,000 in the registered capital and the balance CNY 27,330,000 to its capital reserve. On closing of the transaction, Changchun High & New Technology Industries (Group) Inc., Jilin National Biological Industry Venture Capital Co., Ltd., Qu Gongqi, Shaanxi Industrial Technology Research Institute, Zhou Gongyao, Zhang Qingwei, and Beijing Galaxy Luckystar VC Company Limited will hold 44.50%, 17.80%, 13.35%, 11.44%, 9.73%, 1.91%, and 1.27% respectively. On closing of the second stage, the registered capital of the company will increase from CNY 12,550,000 to CNY 26,220,000. The company reported total assets of CNY 9,058,968.78, net assets of CNY 8,557,962.08, total owners equity of CNY 8,557,962.08, revenues of CNY 101,183.50, and net loss of CNY 1,442,037.92 for the financial year ended December 31, 2013.
On August 20, 2014, the transaction was approved at the 21st meeting of 7th directorate of Changchun High & New Technology Industries (Group) Inc.