Ginlong Technologies Co., Ltd. announced that it expects to receive CNY 2.925 billion in funding from a group of investors
June 27, 2022
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Ginlong Technologies Co., Ltd. announced a private placement of not more than 45,000,000 shares for the gross proceeds of not more than CNY 2,925,000,000 to not more than 35 investors on June 28, 2022. Issue Price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved by board of directors of the company the 9th Meeting of the Company's 3rd Directorate and is subject to the approvals of the Shenzhen Stock Exchange and the China Securities Regulatory Commission.
On August 2, 2022, the company announced that the application for non-public issuance of shares is accepted by the Shenzhen Stock Exchange (Acceptance [2022] No. 384)" issued by the Shenzhen Stock Exchange, having reviewed and decided to accept the Company's private placement application.
Ginlong Technologies Co Ltd, formerly Ningbo Ginlong Technologies Co Ltd, is a China-based company principally engaged in the research and development, production and sales of string inverters as well as the provision of related after-sales services. The Company's main products include single-phase string inverters, three-phase string inverters and other inverters. In addition, The Company is also engaged in the production and sales of inverter fast shut-offs, inverter data collectors, distributed wind power system supporting products and distributed photovoltaic inverter parts. The Company's products are mainly used in distributed photovoltaic power generation systems. The Company mainly distributes its products to the overseas markets.