Ningbo Xusheng Auto Technology Co., Ltd. announced that it expects to receive CNY 1.2 billion in funding
March 24, 2019
Share
Ningbo Xusheng Auto Technology Co., Ltd. (SHSE:603305) announced that it will receive not more than CNY 1,200,000,000 in funding on March 25, 2019. The company will issue not more than 80,120,000 A shares in the transaction. The transaction will include not more than 10 specific investors. The transaction was approved by the board of directors of the company at 4th session of the 2nd supervisory board meeting and at the 7th session of the 2nd directorate meeting. The transaction is subject to the approval of the shareholders at the annual general meeting of 2018. The transaction is subject to the approval of China Securities Regulatory Commission. The transaction is also subject to a hold period of 12 months from the closing of the transaction.
Ningbo Xusheng Group Co Ltd, formerly Ningbo Xusheng Auto Technology Co Ltd, is a China-based company mainly engaged in the research and development, production and sales of die-casting precision aluminum alloy auto parts and industrial parts. The Companyâs die-casting products include drive housings, gearboxes, rafts and reducer housings, etc.; forged products include torsion arms, control arms and subframes, etc.; extrusion products include gas-liquid separators, anti-collision beams, etc. The main application areas of the Company's products include precision machining parts for core systems such as new energy vehicle transmission systems, transmission systems, battery systems, and suspension systems. The Company distributes its products within the domestic market and to overseas market.
NINGBO XUSHENG GROUP CO., LTD. 
