Chengdu Rainbow Group Life Electric Co., Ltd. announced that it expects to receive CNY 60 million in funding from Chengdu Rainbow Appliance Shares Co., Ltd.
January 12, 2021
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Chengdu Rainbow Group Life Electric Co., Ltd. announced that it will receive CNY 60,000,000 in equity round of funding from existing investor Chengdu Rainbow Appliance (Group) Shares Co., Ltd. (SZSE:003023) on January 13, 2021. The investor will continue to hold 100% stake in the company. The registered capital will increase by CNY 10,000,000 from CNY CNY 50,000,000 to CNY 60,000,000 and CNY 50,000,000 will be included in capital reserve. The transaction was approved by the 9th meeting of 9th board of directors and and 9th board of supervisors of Chengdu Rainbow Appliance (Group) Shares Co., Ltd. (SZSE:003023).
Chengdu Rainbow Appliance Group Shares Co Ltd is a China-based company mainly engaged in the research, development, production and sales of household flexible heating appliances and household hygiene and insecticide products. The Company's products include a series of household flexible heating appliances such as electric blankets and electric hand warmers, and a series of household hygiene and insecticide products such as electric mosquito liquid, electric mosquito coils, disc mosquito coils, and insecticidal aerosols. The Company also produces chemical fiber products, agricultural sprayers and shoe dryers, etc. The Company mainly conducts business within the domestic market.
Chengdu Rainbow Group Life Electric Co., Ltd. announced that it expects to receive CNY 60 million in funding from Chengdu Rainbow Appliance Shares Co., Ltd.
CHENGDU RAINBOW APPLIANCE (GROUP) SHARES CO., LTD. 
