Hangzhou Xishi Technology Co., Ltd. announced that it expects to receive CNY 25.15 million in funding from Shanghai AtHub Co.,Ltd.
December 10, 2017
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Hangzhou Xishi Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 25,150,000 on December 11, 2017. The transaction will involve participation from existing investor Shanghai AtHub Co.,Ltd. (SHSE:603881). Post the closing of the transaction, the investor will continue to retain its 100% stake in the company. The transaction has been approved by the investor at its 2nd directorate's 5th meeting. The company reported total assets of CNY 67,067,500, net assets of CNY 64,159,400, revenue of CNY 0, and net profit of CNY -734,500 for the year ended December 31, 2016.
Shanghai AtHub Co Ltd is a China-based company that provides data center construction and services. The Company's Internet Data Center (IDC) service business is mainly engaged in data center server hosting services and data center value-added services, including planning consulting, design consulting, operation management outsourcing, acceptance verification and other services. The Company's IDC solution business mainly provides product portfolio services, including design and planning consulting, data center overall solution business, data center transformation business, and third-party custody services. The Company's cloud service sales business is mainly engaged in the sales of cloud services and products. The Company distributes its products within the domestic market.