Shenzhen Zhongnan Diamond Co., Ltd. announced that it has received CNY 1.27 billion in funding from Hunan Jiangnan Red Arrow Co., Ltd.
January 14, 2014 at 11:00 pm EST
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Shenzhen Zhongnan Diamond Co., Ltd. announced that it has received CNY 1,269,988,011 in a round of funding from existing investor Hunan Jiangnan Red Arrow Co., Ltd. on January 15, 2014. The company issued equity securities in the transaction. As a result of the transaction, the registered capital of the company increased from CNY 450,000,000 to CNY 1,719,988,011. The transaction was approved at the 2013 3rd special stockholders' meeting of the investor.
On January 15, 2014, Shenzhen Zhongnan Diamond Co., Ltd. closed the transaction.
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.