Chengde Suken Yinhe Connecting Rod Co., Ltd. announced that it expects to receive CNY 145 million in funding from Yunnan Xiyi Industry Co., Ltd.
October 25, 2021
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Chengde Suken Yinhe Connecting Rod Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 145 million on October 26, 2021. The transaction will include participation from returning investor Yunnan Xiyi Industry Co., Ltd. to retain its 100% stake in the company. The transaction has been approved the sixth meeting of the sixth board of directors and the sixth meeting of the sixth board of supervisors of the investors. As a result, company's registered capital will increase from CNY 155.5 million to CNY 300 million.
Jianshe Industry Group Yunnan Co Ltd, formerly Yunnan Xiyi Industry Co Ltd, is a China-based company mainly engaged in the research and development (R&D), production and sales of firearms and light weapons, auto parts and strategic emerging businesses. The firearms and light weapons mainly cover firearms and light weapons and equipment, which are fully equipped in the Army, Navy, Air Force, Rocket Force, Strategic Support Force, Public Security, Armed Police and troops stationed in Hong Kong and Macau. The auto parts mainly include steering system, transmission system, precision forging products, engine connecting rod and other products. The strategic emerging businesses mainly include civilian guns, anti-terrorism and anti-riot products, new surface coatings, metal powder injection molding, high-end titanium alloy processing and others.
JIANSHE INDUSTRY GROUP (YUNNAN) CO., LTD. 
