Sinomach Finance Co., Ltd. announced that it will receive CNY 600 million in an equity round of funding on October 23, 2024.The transaction include the participation from returning investors China National Machinery Industry Corporation for CNY 104.916 million, First Tractor Company Limited for CNY 85.716 million, China Machinery Engineering Corporation for CNY for 80.382 million, China Import and Export Automobile Trading Co., Ltd. for CNY 50.466 million, China Machinery Industry Construction Group Inc. for CNY 37.386 million, China National Electric Power Engineering Co., Ltd. for CNY 32.712 million, SUMEC Group Corporation for CNY 28.038 million, Xi'an Heavy Machinery Research Institute Co., Ltd.for CNY 28.038 million, China National Automotive Industry Import and Export Corporation for CNY 23.364 million, China Ippr International Engineering Corporation for CNY 18.69 million, China United Engineering Corporation for CNY 18.69 million, Guangzhou Mechanical Science Research Institute Co., Ltd. for CNY 12.15 million, Machinery Industry Sixth Design and Research Institute Co., Ltd. for CNY 11.22 million, China Heavy Machinery Co., Ltd. for CNY 9.348 million, China Machinery Industry International Cooperation Co., Ltd. for CNY 9.348 million, China Foma (Group) Co. Ltd for CNY 9.348 million, Machinery Industry Fourth Design and Research Institute Co., Ltd. for CNY 5.61 million, China Cable Engineering Co., Ltd. for CNY 4.674 million , Hefei General Machinery Research Institute Co., Ltd. for CNY 4.674 million, China National Electric Apparatus Research Institute Co., Ltd. for CNY 4.674 million, Chengdu Tool Research Institute Co., Ltd. for CNY 4.674 million, Tianjin Electrical Science Research Institute Co., Ltd. for CNY 3.738 million, Lanzhou Petroleum Machinery Research Institute for CNY 3.738 million, Shenyang Instrument Science Research Institute Co., Ltd. for CNY 2.802 million, Luoyang Bearing Research Institute Co., Ltd for CNY 2.802 million. and Zhengzhou Abrasives and Grinding Research Institute Co., Ltd. for CNY 2.802 million.
The company's registered capital is increase from CNY 1,750 million to CNY 2,350 million. The transaction has been approved at the second special meeting of independent directors in 2024, and reviewed and approved the "Proposal on Capital Increase of Sinomach Finance Co., Ltd" and is still subject to approval by the Beijing Regulatory Bureau of the State Administration of Financial Supervision and Administration.
