Guangxi Beihai Fenglin Wood Industry Co., Ltd. announced that it expects to receive CNY 250 million in funding from Guangxi Fenglin Wood Industry Group Co.,Ltd
March 21, 2021
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Guangxi Beihai Fenglin Wood Industry Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 250 million on March 22, 2021. The transcation will include participation from existing investor Guangxi Fenglin Wood Industry Group Co.,Ltd (SHSE:601996). Post completion of transaction, the registered capital of the company will increase from CNY 50 million and CNY 300 million and investor will retain 100% stakes in the company. The transaction has been approved by tenth meeting of the fifth board of directors.
Guangxi Fenglin Wood Industry Group Co., Ltd is a China-based company, principally engaged in the manufacture and sales of artificial boards. Its artificial boards mainly include fiber boards, plywood and shaving boards. The Company's fiber boards are mainly applied in furniture, wood floor buildings, decorations, middle and high cars and ship fitments, handicraft products, high grade loudspeaker boxes, instruments and electronics, among others. Its shaving boards are applied in furniture manufacture, interior finishing and architectural ornament. The Company is also engaged in forest management and restoration business, including growing trees planting, stock growing, as well as woods and stocks distribution.
Guangxi Beihai Fenglin Wood Industry Co., Ltd. announced that it expects to receive CNY 250 million in funding from Guangxi Fenglin Wood Industry Group Co.,Ltd
GUANGXI FENGLIN WOOD INDUSTRY GROUP CO.,LTD 
