Shanghai Baicheng Electrical Equipment Co., Ltd. announced that it has received CNY 50 million in funding from Shandong Weida Machinery Co., Ltd.
August 28, 2014 at 12:00 am EDT
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Shanghai Baipin Electrical Appliance Co., Ltd. announced that it will receive CNY 50 million in its equity round of funding from Shandong Weida Machinery Co., Ltd. on June 23, 2014. The transaction has been approved at 16th session of the 6th directorate of the investor.
On August 28, 2014, Shanghai Baipin Electrical Appliance Co., Ltd. closed the transaction. The company completed the registration modification procedures, obtained the business license issued by the bureau of industry and commerce of Shanghai Jiading District. The registered capital of the company has increased to CNY 70 million.
SHANDONG WEIDA MACHINERY CO., LTD. is a China-based manufacturer of industrial machines. The Company manufactures and distributes drill chucks and related fittings. The Company also provides automobile parts, hardware, instrumentation valves and other casting products. The Companyâs drill chucks include new type high performance drill chucks, finger tight drill chucks, locking tight drill chucks, spanner drill chucks, self tight drill chucks, as well as spanners and related components, among others. The Company distributes its products within domestic market and to overseas markets.
SHANDONG WEIDA MACHINERY CO., LTD. 
