Suzhou Wu’ai Yida Internet of Things Co., Ltd. announced that it expects to receive CNY 16.363636 million in funding from Sanchuan Wisdom Technology Co., Ltd.
August 09, 2021
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Suzhou Wu’ai Yida Internet of Things Co., Ltd. signed capital increase agreement to receive CNY 16,363,636 in funding on August 10, 2021. The transaction will include participation from new investor Sanchuan Wisdom Technology Co., Ltd. which will acquire 12% stake. The post-valuation of the company would be CNY 100,000,000, wherein CNY 1,234,450 will go to registered capital, and its registered capital will increase from CNY 9,052,632 to CNY 10,287,082. Within 10 working days after the agreement signing, investor will pay CNY 6,818,182. Within 10 working days after company’s smart water meter chip products pass Sanchuan Smart Watch’s test, investor will pay CNY 9,545,454. This has been approved in the 15th meeting of the investor’s 6th directorate and does not need the shareholders’ approval.
Sanchuan Wisdom Technology Co.,Ltd, formerly Jiangxi sanchuan water meter CO., LTD., is a China-based company principally engaged in the research, development, production and distribution of water meter products. The Companyâs main products consist of common water meters, water saving water meters, intelligent card water meters and water management application software and systems, among others. The Company distributes its products in domestic market and to overseas markets.
Suzhou Wu’ai Yida Internet of Things Co., Ltd. announced that it expects to receive CNY 16.363636 million in funding from Sanchuan Wisdom Technology Co., Ltd.