Yujing Machinery Co., Ltd. announced that it expects to receive CNY 5 million in funding from Hunan Yujing Machinery Co., Ltd
November 17, 2019
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Yujing Machinery (Changsha) Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 5 million on November 18, 2019. The transaction will include participation from returning investor Hunan Yujing Machinery Co., Ltd (SZSE:002943), to retain its 100% stake in the company. Post completion of the transaction, registered capital of the company will increase from CNY 5 million to CNY 10 million. The transaction has been approve in the 11th meeting of the 3rd directorate of the investor, parent of the company. The transaction does not require shareholder's approval. The company will sign capital increase expansion agreement with the investor.
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 
