Shenzhen Beiding Technology Co., Ltd. announced that it expects to receive CNY 40 million in funding from Shenzhen Crastal Technology CO.,LTD.
July 09, 2020
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Shenzhen Beiding Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 40,000,000 on July 10, 2020. The transaction will involve participation from existing investor, Shenzhen Crastal Technology CO.,LTD. (SZSE:300824). Out of the total amount, the company will receive CNY 10,000,000 in its registered capital and rest will go to capital reserve. Post-closing of the transaction, registered capital of the company will increase from CNY 10,000,000 to CNY 20,000,000. Post the transaction, the company will retain its 100% stake in the company. The transaction has been approved by the board of directors of the investor at its 8th meeting of the 3rd directorate and the 6th meeting of the 3rd supervisory board. The transaction does not need approval from the shareholders of the investor.
Shenzhen Crastal Technology Co Ltd is a China-based company principally involved in the research and development (R & D), manufacturing and sales of small kitchen appliances and ancillary products. The Company's products include health pots, electric kettles, toasters, ovens, water dispensers and steamers, as well as supporting health foods and peripheral products. Its own brand is BUYDEEM. The Company also provides R & D and production services to international brands through Original Equipment Manufacturer (OEM)/Original Design Manufacturer (ODM) models. The Company distributes its products in domestic market and to overseas markets.
SHENZHEN CRASTAL TECHNOLOGY CO.,LTD 
