Hengxin Shambala Culture Co.,Ltd. announced that it has received CNY 699.999999 million in funding from a group of investors
November 25, 2021
Share
On November 26, 2021, Hengxin Shambala Culture Co.,Ltd. closed the transaction. The company amended the terms of the transaction. The company issued 82,352,941 shares at an issue price of CNY 8.50 per share for gross proceeds of CNY 699,999,998.50. The company incurred expenses of CNY 682,702,542.93 in the transaction. The transaction included participation from new investors Tibet RuiHua Capital Management Co., Ltd. for 15,294,117 shares for gross proceeds of CNY 29,999,994.50 for 2.5% stake in the company and China Galaxy Securities Co., Limited for 7,529,411 shares for CNY 63,999,993.50 for 1.23% stake, and returning investor Li Wenzhi for 8,588,242 shares for CNY 73,000,057. Minmetals Securities Co.,Ltd. did not participate in the transaction. The shares are subject to a hold period of 6 months.
HENGXIN SHAMBALA CULTURE CO.,LTD., formerly HENGXIN MOBILE BUSINESS CO.,LTD., is a China-based company principally engaged in the industries supported by artistic creativity and visual technology. The Company operates through three main segments. The Computer Graphics (CG) and Visual Reality (VR) Content Production segment is mainly involved in the utilization of the Company's own CG and VR virtual reality content creation capabilities to build an image data asset library.The Children Industry Chain Development and Operation segment is mainly involved in the content production of childrenâs intellectual property (IP), channel distribution, derivative product licensing, and operation of the offline theme parks. The Location Based Entertainment (LBE) segment is mainly engaged in the provision of LBE venue design and manufacturing services to customers. Through its subsidiaries, the Company is also engaged in the mobile phone retail business and operator customized end product business.
HENGXIN SHAMBALA CULTURE CO.,LTD. 
