Beijing NARI Yihe Environmental Protection Technology Co., Ltd. announced that it expects to receive CNY 20 million in funding from NARI Technology Co., Ltd., Beijing Huayang Yihe Technology Co., Ltd.
May 23, 2018
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Beijing NARI Yihe Environmental Protection Technology Co., Ltd. announced that it will receive CNY 20,000,000 in an equity round of funding on May 24, 2018. The transaction will include participation from existing investors, NARI Technology Co., Ltd. (SHSE:600406) and Beijing Huayang Yihe Technology Co., Ltd. for CNY 10,200,000 and CNY 9,800,000 respectively. On closing, the capital of the company will increase from CNY 10,000,000 to CNY 30,000,000. The investors will continue to hold 51% and 49% stakes in the company. The transaction was approved at the 23rd session of the 6th directorate meeting of NARI Technology Co., Ltd. (SHSE:600406). The company reported total assets of CNY 10,076,900, net assets of CNY 10,030,500, operating revenues of CNY 525,500, and net profit of CNY 30,500 for the year ended December 31, 2017.
Nari Technology Development Limited Company specializes in designing, manufacturing and marketing industrial automation solutions and systems. The group's activity is organized around six families of products:
- software solutions and integrated systems of electric distribution network automation;
- automation systems of substations and electric terminals;
- automated systems of electricity distribution management;
- measurement and control systems of energy consumption;
- control and command systems of electric power generators;
- control systems of railway infrastructures.
China accounts for 98.3% of net sales.
Beijing NARI Yihe Environmental Protection Technology Co., Ltd. announced that it expects to receive CNY 20 million in funding from NARI Technology Co., Ltd., Beijing Huayang Yihe Technology Co., Ltd.