Feng County Yaohui New Energy Co., Ltd. announced that it expects to receive CNY 96 million in funding from Changzhou Almaden Co., Ltd.
April 21, 2017
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Feng County Yaohui New Energy Co., Ltd announced a private placement of shares for gross proceeds of CNY 96,000,000 with existing investor Changzhou Almaden Co., Ltd. (SZSE:002623) on April 22, 2017. Post the closing the registered capital of the company will increase from CNY 5,000,000 to CNY 101,000,000 and the investor will retain its 100% stake in the company. The transaction has been approved at the 11th session of the 3rd directorate of the investor and is not subject to shareholders’ approval. The company reported total assets of CNY 34,943,200, total liabilities of CNY 2,730,100, and net assets of CNY 32,213,100, operating revenue of CNY 0 and net profit of CNY -605,600 for the year ended December 31, 2016.
CHANGZHOU ALMADEN CO.,LTD. is a China-based company principally engaged in the research and development of photovoltaic glass coating technology, as well as the production and sale of photovoltaic coated glass. The Company mainly operates through three segments. The Photovoltaic Glass Anti-glare segment is engaged in the production and sale of photovoltaic coated glass. The Slim Double-glass Component segment is engaged in the production and sale of double-glass components. The Photovoltaic Power Station segment is engaged in the construction of photovoltaic power stations. The Company distributes its products in domestic market and to overseas markets.
CHANGZHOU ALMADEN CO., LTD. 
