Beijing Nancal Ryun Digital Technology Co., Ltd. announced that it expects to receive CNY 80 million in funding from Nancal Energy-Saving Technology Co., Ltd., Ningbo Meishan Free Trade Port Area Ruizuhui Investment Management Partnership Enterprise
April 08, 2018
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Beijing Nancal Ryun Digital Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 80,000,000 on April 9, 2018. The transaction will include participation from existing investor Nancal Energy-Saving Technology Co., Ltd. (SHSE:603859) for CNY 51,000,000, of which, CNY 12,750,000 will be added as registered capital, CNY 38,250,000 will be added as capital reserve and new investor Ningbo Meishan Free Trade Port Area Ruizuhui Investment Management Partnership Enterprise for CNY 29,000,000, of which, CNY 7,250,000 will be added as registered capital, the remaining CNY 21,750,000 will be added as capital reserve. Post the closing, Nancal Energy-Saving Technology Co., Ltd. (SHSE:603859) will hold 70% stake against 74.17% stake and Ningbo Meishan Free Trade Port Area Ruizuhui Investment Management Partnership Enterprise will hold 14.5% stake in the company. The transaction was approved by the board of directors of the company at the 9th session of the 3rd directorate meeting. Pursuant to closing, the registered capital of the company will increase from CNY 30,000,000 to CNY 50,000,000. The transaction is subject to approval from the shareholders of the company. The company reported total assets of CNY 74,303,700, net assets of CNY 60,962,200, revenue of CNY 69,225,200, and net profit of CNY 15,790,200 for the year ended December 31, 2017.
Nancal Technology Co., Ltd. is a China-based company mainly engaged in intelligent business. The Company's main business includes intelligent manufacturing and intelligent electrical. Intelligent manufacturing business mainly provides overall solution services to manufacturing enterprises in the fields of aerospace, aerospace, weapons, high-tech electronics, etc., which can be divided into software systems and services, digital production line construction and services, and test bench construction and services. Intelligent electrical business can be divided into industrial electrical products and systems, charging power products and systems, power quality products and systems, and energy management systems. The Company operates its businesses in both domestic and overseas markets.
Beijing Nancal Ryun Digital Technology Co., Ltd. announced that it expects to receive CNY 80 million in funding from Nancal Energy-Saving Technology Co., Ltd., Ningbo Meishan Free Trade Port Area Ruizuhui Investment Management Partnership Enterprise