Nanjing Yidianhong New Energy Co., Ltd. announced that it expects to receive CNY 199 million in funding from Changzhou Almaden Co., Ltd.
June 26, 2016
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Nanjing Yidianhong New Energy Co., Ltd. announced that it will receive CNY 199 million in an equity round of funding from Changzhou Almaden Co., Ltd. (SZSE:002623) on June 27, 2016. Post-closing of the transaction, the registered capital of the company will increase from CNY 1 million to CNY 200 million. The investor will retain 100% stake in the company. The transaction was approved at 2nd directorate of the 21st meeting and does not require shareholders’ approval of the investor. The closing of the private placement will take place after the closing of the acquisition transaction.
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. 
