Changzhou Gelin Electric Machinery Manufacturing Co., Ltd. announced that it expects to receive CNY 50 million in funding from QuakeSafe Technologies Co., Ltd.
July 14, 2021
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Changzhou Gelin Electric Machinery Manufacturing Co., Ltd. announced that it will receive CNY 50,000,000 in equity round of funding on July 15, 2021. The transaction will include participation from returning investor QuakeSafe Technologies Co., Ltd. to acquire 66.67% stake of the equity. Upon closing, the registered capital of the company will increase from CNY 40,180,000 to CNY 85,180,000. The transaction has been approved in seventh meeting of the third board of directors and the sixth meeting of the third board of supervisors of the investor.
QuakeSafe Technologies Co., Ltd. formerly Yunnan QuakeSafe Seismic Isolation Technologies Co., Ltd. is a China-based company mainly engaged in research and development, production and sales of building isolation rubber bearings. The Company's main products include isolation bearings, elastic skateboard bearings, energy dampers, road bridge bearings and others. The Company also provides related technical services such as isolation consultation, isolation design, isolation rubber bearing installation guidance, replacement and maintenance. The Company's products are mainly used in schools, hospitals, commercial and residential properties, public buildings and other public housings in the field of affordable housing. The Company mainly conducts its businesses in domestic market.
Changzhou Gelin Electric Machinery Manufacturing Co., Ltd. announced that it expects to receive CNY 50 million in funding from QuakeSafe Technologies Co., Ltd.
QUAKESAFE TECHNOLOGIES CO., LTD. 
