Wuhan Tuopu Maigao Auto Parts Co., Ltd. announced that it expects to receive CNY 100 million in funding from Ningbo Tuopu Group Co., Ltd.
Wuhan Tuopu Maigao Auto Parts Co., Ltd. announced that it will receive CNY 100 million in equity funding from returning investor, Ningbo Tuopu Group Co., Ltd. (SHSE:601689) on October 23, 2018. On closing, the registered capital of the company will increase from CNY 50,000,000 to CNY 150,000,000. On closing, the investor will continue to retain its 100% stake in the company. The transaction was approved at the 11th meeting of the 3rd directorate.