Guangxi Chuanjinnuo Chemical Co., Ltd. announced that it expects to receive CNY 275 million in funding from Fangchenggang Lingyun Enterprise Management Consulting Partnership Enterprise (Limited Partnership), Kunming Lingrong Enterprise Management Consulting Partnership Enterprise (Limited Partnership), Kunming Chuan Jin Nuo Chemical Co., Ltd.
January 07, 2021
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Guangxi Chuanjinnuo Chemical Co., Ltd. announced that it will receive CNY 275,000,000 in an equity round of funding on January 8, 2021. The transaction will include participation from Fangchenggang Lingyun Enterprise Management Consulting Partnership Enterprise (Limited Partnership), Kunming Lingrong Enterprise Management Consulting Partnership Enterprise (Limited Partnership), and Kunming Chuan Jin Nuo Chemical Co., Ltd. (SZSE:300505) for CNY 250,000,000 to retain their 4.55%, 4.55% and 90.91% stake respectively. After the capital increase, the registered capital of Guangxi Chuanjinnuo increased from CNY 110,000,000 to CNY 385,000,000. The transaction has been approved 4th Meeting of the company’s 4th directorate and the 4th meeting of the 4th supervisory board and is subject to the shareholders’ approval.
Kunming Chuan Jin Nuo Chemical CO., Ltd. is principally engaged in the research, production and fractional utilization of wet-process phosphoric acid. The Company's major products include wet crude phosphoric acid, feed grade calcium hydrophosphate, feed grade cacium dihydrogenphosphate, fertilizer grade dicalcium phosphate, triple superphosphate and enriched superphosphate, among others, which are used as additive of fertilizer and feed. In addition, the Company produces by-product powdered iron using waste generated by acid making from pyrite. The product is mainly used as raw materials in smelting for iron and steel enterprises.
Guangxi Chuanjinnuo Chemical Co., Ltd. announced that it expects to receive CNY 275 million in funding from Fangchenggang Lingyun Enterprise Management Consulting Partnership Enterprise (Limited Partnership), Kunming Lingrong Enterprise Management Consulting Partnership Enterprise (Limited Partnership), Kunming Chuan Jin Nuo Chemical Co., Ltd.