Sichuan Yongquan Glass Tech Co.,Ltd. announced that it expects to receive CNY 100 million in funding from Jiangsu Xiuqiang Glasswork Co., Ltd.
January 14, 2021
Share
Sichuan Yongquan Glass Tech Co.,Ltd. announced that it will receive CNY 100,000,000 in an equity round of funding on January 15, 2021. The transaction will include participation from existing investor Jiangsu Xiuqiang Glasswork Co., Ltd. (SZSE:300160). As a part of the transaction, CNY 15,000,000 will go to registered capital and CNY 85,000,000 will go to capital reserve. Pursuant to the transaction, registered capital will increase from CNY 35,000,000 to CNY 50,000,000. The transaction has been approved at the 14th meeting of 4th board of directors and 14th meeting of 4th board of supervisors, and is not subject to shareholders approval of the company's parent.
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.