Jiangsu Huaxi Group Finance Co., Ltd. announced that it expects to receive CNY 500 million in funding from Jiangsu Huaxi Group Corporation, Jiangsu Huaxicun Co., Ltd.
March 27, 2018
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Jiangsu Huaxi Group Finance Co., Ltd. announced that it will receive CNY 500,000,000 in a round of equity funding on March 28, 2018. The transaction will include participation from existing investors, Jiangsu Huaxicun Co., Ltd. (SZSE:000936) and Jiangsu Huaxi Group Corporation, which will invest CNY 50,000,000 and CNY 450,000,000 respectively. The investors will retain 10% and 90% respectively on closing of the transaction. The transaction was approved at the 7th session for its 7th directorate meeting of Jiangsu Huaxicun Co., Ltd. (SZSE:000936). The transaction is not subject to approval from the shareholders of the company. On closing, the capital of the company will increase from CNY 500,000,000 to CNY 1,000,000,000. The company reported total assets of CNY 2,306,152,400, total liabilities CNY 1,550,264,100 operating revenue CNY 126,322,700, net profit CNY 85,476,700, total shareholders’ equity CNY 755,888,300, and total profit CNY 113,969,000 for the year ended December 31, 2017.
JIANGSU HUAXICUN CO.,LTD. is a China-based company principally engaged in the research, development, production and sale of textile chemical fiber products. The Company operates through three business segments. Polyester Fiber segment mainly provides polyester staple fibers. Petrochemical Warehousing and Logistics segment mainly provides terminal loading and unloading, warehousing, barging transit and pipeline transportation services for liquid chemicals. Investment segment is mainly involved in merger and acquisition investment, venture capital, asset management and strategic investment. The Company operates its business in domestic market.
Jiangsu Huaxi Group Finance Co., Ltd. announced that it expects to receive CNY 500 million in funding from Jiangsu Huaxi Group Corporation, Jiangsu Huaxicun Co., Ltd.