Changzhou EGing Photovoltaic Technology Co., Ltd. announced that it expects to receive CNY 2.4 billion in funding from EGing Photovoltaic Technology Co.,Ltd., Changzhou Jinsha Technology Investment Co., Ltd.
December 21, 2020
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Changzhou EGing Photovoltaic Technology Co., Ltd. announced that it will receive CNY 2,400 million in a equity round of funding on December 22, 2020. The transaction included participation from returning investor, EGing Photovoltaic Technology Co.,Ltd. for CNY 1,200 million and new investor, Changzhou Jinsha Technology Investment Co., Ltd. for CNY 1,200 million. Post transaction returning investor holds 79.66% and other investor holds 20.34% company's equity. The transaction was approved by the board of directors in 24th meeting of the company's sixth board of directors of EGing Photovoltaic Technology Co.,Ltd. After the transaction the company registered capital will increase from CNY 1,521.03 million to CNY 2,564.054772 million. The company will raise the amount in two tranches of which first one will fall on before January 15, 2021 for CNY 700 million each.
EGing Photovoltaic Technology Co., Ltd. is a China-based company, principally engaged in photovoltaic industry business. Its products mainly include solar modules, including single crystal components, polycrystalline components and double glass components, solar cells, as well as silicon wafers. The Company is also engaged in power generation business and power stations construction. It distributes its products within domestic markets and to overseas markets.
Changzhou EGing Photovoltaic Technology Co., Ltd. announced that it expects to receive CNY 2.4 billion in funding from EGing Photovoltaic Technology Co.,Ltd., Changzhou Jinsha Technology Investment Co., Ltd.