Tianjin Changde Technology Co., Ltd. announced that it expects to receive CNY 222.5 million in funding from Masterwork Group Co., Ltd., Heidelberger Druckmaschinen Aktiengesellschaft
December 22, 2021
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Tianjin Changde Technology Co., Ltd. announced that it has entered into capital increase agreement for proceeds CNY 222.5 million on December 23, 2021. The transaction will include participation from Masterwork Group Co., Ltd. for CNY 133.5 million and Heidelberger Druckmaschinen Aktiengesellschaft for CNY 89 million. After completion of the transaction, the total registered capital will be CNY 230.5 million, of which Masterwork Group Co., Ltd. will hold 60% of the equity of the joint venture and Heidelberger Druckmaschinen Aktiengesellschaft will hold 40% of the equity. The transaction has been approved in the 22nd meeting of the fifth board of directors and the company's first special shareholders' meeting.
On September 28, 2022, Heidelberger Druckmaschinen AG obtained the business license issued by the Market Supervision Administration of Beichen District Tianjin City.
Masterwork Group Co., Ltd., formerly Masterwork Machinery Co., Ltd., is principally engaged in the research, development, production and distribution of printing equipment. The Company mainly provides hot stamping machines, mainly applied in gilding, die cutting, creasing and pressing of paper packaging decoration materials, such as paper boxes and trademarks; die cutting machines, mainly applied in die cutting, creasing and cold pressing of trademarks, paper boxes and greeting cards, pasting machines, mainly used for molding processing of foods, liquor and tobacco, medicine and cosmetics, as well as inspection equipment and others. The Company distributes its products in both domestic and overseas markets.
Tianjin Changde Technology Co., Ltd. announced that it expects to receive CNY 222.5 million in funding from Masterwork Group Co., Ltd., Heidelberger Druckmaschinen Aktiengesellschaft
MASTERWORK GROUP CO.,LTD. 
