4K Garden Network Technology Co., Ltd. announced that it expects to receive CNY 62.55 million in funding from Besttone Holding Co.,Ltd
September 11, 2020
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4K Garden Network Technology (Guangzhou) Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 62,550,000 on September 12, 2020. The transaction will involve participation from new investor, Besttone Holding Co.,Ltd (SHSE:600640) for 6% stake in the company. Out of the total amount, the company will receive CNY 4,276,600 as part of registered capital and CNY 58,273,400 will be added as capital reserve. The current registered capital of the company is CNY 67,000,000. The round is raised at a pre-money valuation of 980,000,000. The transaction has been approved by the board of directors of the investor at its 4th session of the 10th directorate.
New Guomai Digital Culture Co Ltd is a China-based company mainly engaged in digital content, digital marketing, and digital cultural tourism. The Digital Content segment is mainly engaged in the provision of digital content applications such as ultra-high-definition video and cloud games for individual customers and home customers, including aggregated entertainment, global games, services for the elderly and stereoscopic live broadcasting. The Digital Marketing segment is mainly engaged in the operation of digital marketing platforms, providing overall solutions for corporate customers, providing digital rights, digital membership, and data intelligence products. The Digital Cultural Tourism segment mainly provides digital solutions, promotes new information consumption, and provides digital exhibition, digital business, and digital cultural and exhibition products. The Other segment is mainly engaged in other digital culture related businesses, housing leasing and others.
NEW GUOMAI DIGITAL CULTURE CO., LTD. 
