Xuzhou Bokang Information Chemical Co., Ltd. announced that it expects to receive CNY 30 million in funding from Dongyang Kaiyang Technology Innovation Development Partnership (Limited Partnership), HMT New Technical Materials Co., Ltd
December 29, 2020
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Xuzhou Bokang Information Chemical Co., Ltd. announced that it has signed an investment agreement and will issue common shares for gross proceeds of CNY 30,000,000 on December 30, 2020. The transaction will include participation from new investor Dongyang Kaiyang Technology Innovation Development Partnership (Limited Partnership), a fund managed by HMT (Xiamen) New Technical Materials Co., Ltd (SHSE:603306). After the completion of the transaction, the investor will hold 1.186% stake in the company. The transaction is expected to close within 15 days. After the completion of the transaction, the registered capital of the company will increase to CNY 760,094,990,000. The round will be raised at a pre-money valuation of CNY 2,500,000,000.
HMT (XIAMEN) NEW TECHNICAL MATERIALS CO., LTD is a China-based company, principally engaged in the research and development, manufacture and sales of automotive system components. The Company's products mainly include automobile airbag fabric and airbag products. The Company's airbag products include air bags and air bag off-cuts. It distributes its products within domestic market and to overseas markets.
Xuzhou Bokang Information Chemical Co., Ltd. announced that it expects to receive CNY 30 million in funding from Dongyang Kaiyang Technology Innovation Development Partnership (Limited Partnership), HMT New Technical Materials Co., Ltd