Jiangsu Shengyi Special Materials Co., Ltd. announced that it expects to receive CNY 300 million in funding from Shengyi Technology Co.,Ltd.
March 25, 2018
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Jiangsu Shengyi Special Materials Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 300,000,000 on March 26, 2018. The transaction will involve participation from returning investor Shengyi Technology Co.,Ltd. (SHSE:600183). Post the closing of the transaction, the investor will continue to hold 100% stake in the company and the registered capital of the company will increase from CNY 200,000,000 to CNY 500,000,000. The transaction was approved by the investor in the 31st meeting of its 8th directorate and further does not need its shareholders approval. The company reported total assets of CNY 12,840,963,367.92, net assets of CNY 6,017,816,041.6, revenue of CNY 10,751,554,129.91, and net profit of CNY 1,074,663,320.02 for the year ended December 31, 2017.
SHENGYI TECHNOLOGY CO., LTD. is a China-based company, principally engaged in the manufacture and distribution of copper clad laminates (CCLs) and bonding sheets. The Company is also engaged in the manufacture and distribution of printed circuit boards (PCBs). Its products are mainly used for making single, double-sided and multi-layer circuit boards, applied in electronics such as mobile phones, automobile electronics, communications devices and computers. It distributes its products in domestic and overseas markets.
SHENGYI TECHNOLOGY CO.,LTD. 
