Shanghai Red Avenue Electronics Materials Co., Ltd. announced that it expects to receive CNY 400 million in funding from Red Avenue New Materials Group Co., Ltd.
April 14, 2021
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Shanghai Red Avenue Electronics Materials Co., Ltd. announced that it will receive CNY 400 million in an equity round of funding on April 15, 2021. The transaction will include participation from returning investor Red Avenue New Materials Group Co., Ltd. and will retain its 100% stake in the company. Pursuant to the transaction, the registered capital of the company will increase from CNY 200,000,000 to CNY 600,000,000. The transaction has been approved in the 22nd meeting of the company?s 2nd directorate and it does not need the shareholders approval.
Red Avenue New Materials Group Co., Ltd. is a China-based company principally engaged in the research, development, production, sales and trading of fine chemical materials. The Company's main products are phenolic resins for rubber, including tackifying resins, reinforcing resins and adhesive resins. The Company's products are mainly applied in tires, as well as hoses, adhesive tapes, rubber shoes and other rubber products. The Company is also engaged in the trading of homogenizers, tackifying resins, adhesives, cobalt salts, white carbon, protective waxes, environmentally friendly oils and other processing aids.
Shanghai Red Avenue Electronics Materials Co., Ltd. announced that it expects to receive CNY 400 million in funding from Red Avenue New Materials Group Co., Ltd.
RED AVENUE NEW MATERIALS GROUP CO., LTD. 
