Anhui Airport Baida Morning Star Cross Border E-Commerce Co., Ltd. announced that it expects to receive CNY 20 million in funding from Hefei Department Store Group Co.,Ltd, Hefei Hai Heng Investment Holding Group Corporation, Anhui Baida Joymart Chain Supermarket Co., Ltd., Shenzhen Morning Star E-Commerce Co., Ltd.
January 23, 2018
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Anhui Airport Baida Morning Star Cross Border E-Commerce Co., Ltd. announced a private placement of 20,000,000 common shares at a price of CNY 1 per share for gross proceeds of CNY 20,000,000 on January 24, 2018. The transaction will include participation from existing investors, Hefei Department Store Group Co., Ltd. (SZSE:000417) which will invest CNY 7,000,000, Anhui Baida Joymart Chain Supermarket Co., Ltd. which will invest CNY 2,000,000, Hefei Hai Heng Investment Holding Group Corporation which will invest CNY 3,000,000 and Shenzhen Morning Star E-Commerce Co., Ltd. which will invest CNY 8,000,000. Post transaction, the investors will retain their respective 35%, 10%, 15% and 40% stakes in the company. The registered capital of the company will increase from CNY 20,000,000 to CNY 40,000,000. The transaction was approved at the 7th interim session of the 8th directorate meeting of Hefei Department Store Group Co., Ltd. (SZSE:000417). The company reported total assets of CNY 37,301,000, net assets of CNY 11,745,100, revenue of CNY 56,378,400, operating loss of CNY 9,983,600 and net loss of CNY 6,706,000 for the year ended December 31, 2017.
HEFEI DEPARTMENT STORE GROUP CO.,LTD is a China-based company principally engaged in department store retailing business. The Company operates its retailing business through general department stores, chain supermarkets, household appliance retail stores and electronic commerce. The Companyâs products mainly include menâs and womenâs apparel, accessories, jewelry, watches and glasses, shoes, hats, bags, beddings and cosmetics, among others. The Company is also involved in agricultural product market trading and real estate business. The Company operates its business mainly in Hefei and Bengbu in Anhui Province, China.
Anhui Airport Baida Morning Star Cross Border E-Commerce Co., Ltd. announced that it expects to receive CNY 20 million in funding from Hefei Department Store Group Co.,Ltd, Hefei Hai Heng Investment Holding Group Corporation, Anhui Baida Joymart Chain Supermarket Co., Ltd., Shenzhen Morning Star E-Commerce Co., Ltd.