Zhengzhou Mingtai Industry Co.,Ltd. announced that it expects to receive CNY 20 million in funding from Henan Mingtai Al.Industrial Co.,Ltd.
July 12, 2017
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Zhengzhou Mingtai Industry Co.,Ltd announced a private placement of shares for gross proceeds of CNY 20,000,000 with returning investor Henan Mingtai Al.Industrial Co.,Ltd. (SHSE:601677) on July 13, 2017. Post the closing the registered capital of the company will increase from 70,000,000 to 90,000,000 and the stake of the investor will increase from 75% to 80.56% in the company. The transaction has been approved in the 16th meeting of 4th directorate of the investor and is not subject to shareholders’ approval of the investor. The company reported total assets of CNY 1,169,333,600, total liabilities of CNY 617,248,600, net assets of CNY 552,085,100, revenue of CNY 2,864,149,800, and net profit of CNY 77,379,400 for the year ended December 31, 2016.
Henan Mingtai Al Industrial Co Ltd is a China-based company mainly engaged in the aluminum sheet, strip and foil, aluminum profiles and comprehensive utilization of renewable resources. The Company's main products include soft pack battery aluminum foil, electronic foil, checkered plate, commercial vehicle lightweight material, food and drug packaging foil, rail car body profile, aluminum alloy rail car body, new energy battery tray, automotive profile, extruded aluminum for Ultra High Voltage (UHV) transmission equipment Gas Insulated Line (GIL) Pipes, rail vehicle interior parts and other products. The Company's products are mainly used in new energy, new materials, Fifth Generation (5G) communication, pharmaceutical packaging, food packaging, transportation, UHV power transmission, rail car body, military industry and many other fields. The Company distributes its products in domestic market and to overseas markets.