Shanghai Shunho New Materials Technology Co.,Ltd. announced that it has received CNY 155.999994 million in funding
April 17, 2018
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Shanghai Shunho New Materials Technology Co.,Ltd. (SZSE:002565) announced a private placement of 21,636,615 class A common shares for gross proceeds of CNY 155,999,994.15 on April 18, 2018. The shares issued are subject to 12 months hold period. The transaction included participation from Xie Jiucheng subscribed 7,212,205 for CNY 51,999,998.05, Hong Wenguang subscribed 7,212,205 for CNY 51,999,998.05, Chen Yonggui 7,212,205 for CNY 51,999,998.05. The company has received net proceeds of CNY 151,246,220.73. The company has paid the expenses of CNY 4,753,773.42.
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 NEW MATERIALS TECHNOLOGY CO.,LTD. 
