Changyuan Technology Co., Ltd. announced that it expects to receive CNY 60 million in funding from Changshu Automotive Trim Co., Ltd., Shanghai Houwang Investment Management Co., Ltd
March 25, 2020
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Changyuan Technology (Tianjin) Co., Ltd. announced that it will receive CNY 60,000,000 in a round of funding on March 26, 2020. The transaction will include participation from existing investor, Changshu Automotive Trim Co., Ltd. for CNY 55,200,000. The transaction will also include participation from existing investor, Shanghai Houwang Investment Management Co., Ltd. On closing, Shanghai Houwang Investment Management Co., Ltd will hold 8% stake in the company. On closing, the registered capital of the company will increase from CNY 73,800,000 to CNY 133,800,000. The transaction was approved at the 7th meeting of the 3rd directorate of Changshu Automotive Trim Co., Ltd. and is not subject to approval from its shareholders.
Jiangsu Changshu Automotive Trim Group Co Ltd, formerly Changshu Automotive Trim Co Ltd, is a China-based company and mainly engaged in development and research, manufacture and sales of interior trim for passenger cars. The main products of the Company are door panels, skylights, sunroofs, coat racks, door posts, luggage compartment interiors, storage boxes, spare tire covers, carpets, acoustic cushions, and among others. The main customers of the Company are domestic car manufacturer and auto parts primary suppliers. The Company operates its businesses primary in domestic market.
Changyuan Technology Co., Ltd. announced that it expects to receive CNY 60 million in funding from Changshu Automotive Trim Co., Ltd., Shanghai Houwang Investment Management Co., Ltd