Yujiang Changpu New Electric Energy Co., Ltd. announced that it expects to receive CNY 71.64 million in funding from Jilin Power Share Co.,Ltd., Shanghai Changpu New Electric Energy Co., Ltd.
October 24, 2017
Share
Yujiang Changpu New Electric Energy Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 71,640,000 on October 25, 2017. The transaction will involve participation from Jilin Power Share Co.,Ltd. (SZSE:000875) for CNY 68,058,000 and Shanghai Changpu New Electric Energy Co., Ltd. for CNY 3,582,000. Post the closing of the transaction, the registered capital of the company will increase from CNY 20,000,000 to CNY 91,640,000. The transaction has been approved by Jilin Power Share Co.,Ltd. (SZSE:000875) at the 19th meeting of its 7th directorate and is not subject to its shareholders approval. The company reported total assets of CNY 20,050,000, total liabilities of CNY 60,000, and net assets of CNY 19,990,000 for the year ended December 31, 2016.
JILIN ELECTRIC POWER CO.,LTD. is a China-based company principally engaged in the electric power generation and heat supply businesses. The Company generates power mainly through thermal power, wind power and solar power. The Company is also involved in new energy investment and development, power plant maintenance, technology research and development, electricity distribution and other businesses. The Company operates its business in domestic market, with the northeast region of China as its main market.
Yujiang Changpu New Electric Energy Co., Ltd. announced that it expects to receive CNY 71.64 million in funding from Jilin Power Share Co.,Ltd., Shanghai Changpu New Electric Energy Co., Ltd.
JILIN ELECTRIC POWER CO.,LTD. 
