Sichuan Recycling Resource Development Co.,Ltd. announced that it expects to receive CNY 70 million in funding from Zhongzai Resource and Environment Co., Ltd.
April 23, 2017
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Sichuan Recycling Resource Development Co.,Ltd. announced a private placement of common shares for gross proceeds of CNY 70,000,000 with returning investor Zhongzai Resource and Environment Co., Ltd. (SHSE:600217) on April 24, 2017. As a result of the transaction, the company’s registered capital will increase from CNY 80,000,000 to CNY 150,000,000. The transaction was approved at Zhongzai Resource and Environment Co., Ltd.’s 36th session of the sixth directorate and does not require approval of its stockholders.
Zhongzai Resources and Environment Co., Ltd., formerly Shaanxi Qinling Cement (Group) Co., Ltd. is a China-based company principally engaged in the development, recycling, processing and sale of available resources. The Company is also involved in the wholesale of general merchandise, knitwear, daily groceries, furnitures, hardware, chemical products, construction materials, mineral products, as well as plastic products, among others. The Company mainly operates its business in domestic market.
Sichuan Recycling Resource Development Co.,Ltd. announced that it expects to receive CNY 70 million in funding from Zhongzai Resource and Environment Co., Ltd.
CHINA RESOURCES AND ENVIRONMENT CO.,LTD. 
