Guangdong Foran Technology Co., Ltd. announced that it expects to receive CNY 190 million in funding from Foran Energy Group Co.,Ltd.
June 20, 2021
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Guangdong Foran Technology Co., Ltd. announced that it will receive CNY 190 million in an equity round of funding on June 21, 2021. The transaction included participation from returning investor, Foran Energy Group Co.,Ltd. to retain its 100% stake in the company. The registered capital of the company will increase from CNY 10,000,000 to CNY 200,000,000 post closing of the transaction. The transaction has been approved at the 11th meeting of the 5th directorate of the investor.
Foran Energy Group Co.,Ltd., formerly Foshan Gas Group Co.,Ltd., is a China-based company principally engaged in the transmission and distribution of natural gas. The Company also provides gas engineering design and construction, distributed energy, natural gas trading, gas storage peak shaving and other businesses. The Company's main product is natural gas, which is mainly applied to the fields of residential life, industry, commerce, power generation, transportation and distributed energy. The Company mainly distributes its products within domestic market.
FORAN ENERGY GROUP CO., LTD. 
