Guangdong King-Strong Diamond Tools Co., Ltd. announced that it expects to receive CNY 52.4279 million in funding from King-Strong New Material Technology Co., Ltd.
September 17, 2020
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Guangdong King-Strong Diamond Tools Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 52,427,900 on September 18, 2020. The transaction will include participation from existing investor King-Strong New Material Technology Co., Ltd. (SZSE:300629). Post completion of transaction, the investor will retain 100% stakes in the company and registered capital of the company will increase from CNY 67,572,100 to CNY 120,000,000. The transaction has been approved at 25th meeting of the company’s 3rd directorate and does not required shareholder approval.
Guangdong Kingstrong Technology Co Ltd is a company mainly engaged in research, development, production and sales of metal matrix composite materials and products. The company operates two segments. The Metal Products and Other Businesses segment provides metal matrix superhard material products, thermal spray materials, wave absorbing materials, optical materials and products, as well as carbon fiber materials products. The products are used in building ceramics and military industry. The Radio Frequency (RF) Microwave segment operates its businesses through its subsidiary, and engaged in the design, development and production of RF microwave components, equipment and systems. The Company sells its products to both domestic and international markets, including Vietnam and India.
Guangdong King-Strong Diamond Tools Co., Ltd. announced that it expects to receive CNY 52.4279 million in funding from King-Strong New Material Technology Co., Ltd.
GUANGDONG KINGSTRONG TECHNOLOGY CO., LTD. 
