Hunan Yujing Machinery Co.,Ltd announced that it expects to receive CNY 342 million in funding
November 14, 2021
Share
Hunan Yujing Machinery Co., Ltd announced that it has entered into share subscription agreement for a private placement of not more than 20,000,000 A shares at an issue price of CNY 17.10 per share for gross proceeds of CNY 342,000,000 on November 15, 2021. The transaction will include participation from Jiawei Yang for 16.67% stake. The shares cannot be transferred within 36 months from the issuance closing date. The transaction has been approved in the 6th Meeting of the Company?s 4th Directorate and is subject to the approvals of the Company?s Shareholders and the China Securities Regulatory Commission.
Hunan Yujing Machinery Co., Ltd. is a China-based company mainly engaged in the research, development, design, manufacture and sales of precision computer numerical control (CNC) machine tools. The Company's main products include multi-wire cutting machines and grinding and polishing machines. Its products are mainly applied in cutting, grinding, polishing, drilling and other working operations of hard and brittle materials such as glass, sapphire, silicon materials, magnetic materials and ceramic materials. The Company also provides multi-wire cutting machine technical transformation services. The Company distributes its products in domestic market and to overseas markets.
HUNAN YUJING MACHINERY CO.,LTD 
