Shanghai Shunho International Trade Co., Ltd. announced that it expects to receive CNY 80 million in funding from Shanghai Shunho New Materials Technology Co.,Ltd.
October 14, 2018
Share
Shanghai Shunho International Trade Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 80,000,000 on October 15, 2018. The transaction will involve participation from existing investor Shanghai Shunho New Materials Technology Co.,Ltd. (SZSE:002565). Post the transaction, the registered capital of the company will increase from CNY 20,000,000 to CNY 100,000,000. The company reported total assets of CNY 152,482,900, net assets of CNY 69,220,900, net profit of CNY 14,566,100, and operating revenue of CNY 457,856,000 for the year ended December 31, 2017.
Shanghai Shunho New Materials Technology Co.,Ltd., formerly Shanghai Luxin Packing Materials Science & Technology Co., Ltd., is a China-based company principally engaged in the research, development, manufacture, processing and distribution of packaging products. The Company's main products include vacuum metalized papers, polypropylene fibers for cigarettes, as well as white cardboards and laminated papers. The Company is also involved in the provision of printing materials, hologram papers as well as optical anti-counterfeiting films, among others. The Company's products are applied in the packing of tobaccos, food, beverages, sports goods, liquors and others. In addition, the Company also engages in the research, manufacture and distribution of natural biological fertilizer and organic feed, as well as the development of network technology, among others. The Company distributes its products within domestic market and to overseas markets.
Shanghai Shunho International Trade Co., Ltd. announced that it expects to receive CNY 80 million in funding from Shanghai Shunho New Materials Technology Co.,Ltd.
SHANGHAI SHUNHO NEW MATERIALS TECHNOLOGY CO.,LTD. 
