Henan Beifang Hongyang Industrial Machinery Co., Ltd. announced that it expects to receive CNY 291.43 million in funding from North Industries Group Red Arrow Co., Ltd.
April 23, 2017
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Henan Beifang Hongyang Industrial Machinery Co., Ltd. announced that it will receive CNY 291,433,794.29 in an equity round of funding on April 24, 2017. The transaction will include participation from returning investor North Industries Group Red Arrow Co., Ltd. (SZSE:000519) to maintain its 100% stake in the company after the transaction. The transaction was approved at the 36th meeting of the 9th directorate of the investor and is also subject to its shareholders’ approval.
The company reported total assets of CNY 874,052,700, total liabilities of CNY 726,280,800, net assets of CNY 147,771,900, revenue of CNY 594,920,500, and net profit of CNY 10,548,400 for the year ended December 31, 2016.
NORTH INDUSTRIES GROUP RED ARROW CO., LTD, formerly HUNAN JIANGNAN RED ARROW CO.,LTD, is a China-based company principally engaged in the research, development, manufacture and sale of superhard materials, intelligent ammunition products and internal combustion engine parts. The Companyâs superhard materials mainly include synthetic diamonds, cubic boron nitrides single crystal and polycrystalline series, composite materials and high-purity graphite and related products, among others. The Company's intelligent ammunition products mainly include large caliber shells, rocket bombs, missiles and submunitions, among others. The Companyâs internal combustion engine parts mainly include gasoline, diesel engine cylinder liners and pistons, among others. The Company distributes its products in domestic market and to overseas markets.
Henan Beifang Hongyang Industrial Machinery Co., Ltd. announced that it expects to receive CNY 291.43 million in funding from North Industries Group Red Arrow Co., Ltd.
NORTH INDUSTRIES GROUP RED ARROW CO., LTD 
