Chongqing Silian Sensor Technology Co., Ltd. announced that it expects to receive CNY 130 million in funding from a group of investors
July 15, 2021
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Chongqing Silian Sensor Technology Co., Ltd. announced that it has entered into an investment agreement for a private placement of common shares for gross proceeds of CNY 130,000,000 on July 16, 2021. The transaction will include participation from returning investor Chongqing Chuanyi Automation Co., Ltd., new investors Beijing Junlian Shengyuan Equity Investment Partnership Enterprise (Limited Partnership) for 4.33% stake, Shanghai Junlian Shenghao Venture Capital Partnership Enterprise (Limited Partnership) for 8.67% stake, Shanghai Baolong Automotive Technology (Anhui) Co., Ltd. for 3.64% stake and SME Development Fund (Jiangsu Nantong Limited Partnership) for 13% stake. Post the transaction, CNY 27,857,100 will be added to the registered capital of the company and the registered capital will increase from CNY 90,000,000 to CNY 117,857,100 and CNY 102,142,900 will be added to the capital reserve of the company and Chongqing Chuanyi Automation Co., Ltd.'s stake holding in the company will decrease from 30% to 22.91%.
Chongqing Chuanyi Automation CO.,LTD. is a China-based company principally engaged in industrial automation system installation and engineering complete set businesses. The Company's main products include intelligent actuators, smart transmitters, smart regulating valves, smart flow meters, temperature gauges, control equipment and instrumentation and analytical instruments. The Company also provides turnkey services. The Company distributes its products in domestic market and to overseas markets, with the southern region of China as its main market.