Ningbo Hesheng Aluminum Bottle Technology Co., Ltd. announced that it expects to receive CNY 90 million in funding from Ningbo Xusheng Auto Technology Co., Ltd., Qingdao Linshui Zhilai Equity Investment Partnership (Limited Partnership) and another investor
July 20, 2022
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Ningbo Hesheng Aluminum Bottle Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 90 million on July 21, 2022. The transaction will include participation from returning investor Ningbo Xusheng Auto Technology Co., Ltd. for CNY 54.6 million, new investor Qingdao Linshui Zhilai Equity Investment Partnership (Limited Partnership) for CNY 24 million and individual investor Xu Xudong for CNY 11.4 million. The transaction has been approved in the 11th extraordinary meeting of the third board of directors of Ningbo Xusheng Auto Technology Co., Ltd. Post the transaction, the registered capital of the company will increase from CNY 30 million to CNY 120 million and Ningbo Xusheng Auto Technology Co., Ltd.'s shareholding in the company will decrease from 86% to 67%, Qingdao Linshui Zhilai Equity Investment Partnership (Limited Partnership) will acquire 20% stake and Xu Xudong will acquire 9.5% stake in the company.
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 Hesheng Aluminum Bottle Technology Co., Ltd. announced that it expects to receive CNY 90 million in funding from Ningbo Xusheng Auto Technology Co., Ltd., Qingdao Linshui Zhilai Equity Investment Partnership (Limited Partnership) and another investor