Hangzhou Quanren Education Group Co., Ltd. announced that it expects to receive CNY 100 million in funding from Jiangsu Xiuqiang Glasswork Co., Ltd.
April 22, 2018
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Hangzhou Quanren Education Group Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 100,000,000 on April 23, 2018. The transaction will include participation from Jiangsu Xiuqiang Glasswork Co., Ltd. (SZSE:300160). CNY 50,000,000 will go towards registered capital and CNY 50,000,000 to capital reserve. After this transaction, the registered capital of the company will become CNY 100,000,000. The transaction was approved by the investor company board of directors in its 23rd meeting of the 3rd directorate. The company has recorded total assets of CNY 245,057,700, net assets of CNY 68,141,000, operational income of CNY 70,348,600 and net profit of CNY 19,809,200 for the period ended December 2017.
Jiangsu Xiuqiang Glasswork Co., Ltd. is a China-based company principally engaged in the deep processing of glass and operation, management of kindergartens. The Company operates through two main segments. The Deep Processing of Glass segment is mainly involved in the research, development, manufacture and sales of deep processing glass products which include appliance glass, household glass, photovoltaic glass and cover plate glass of display screens. The Operation and Management of Kindergartens segment is mainly involved in the acquisition of kindergartens and provision of integrated solution plans for kindergartens.