Xunchi Vehicle Jiangsu Co., Ltd. announced that it expects to receive CNY 100 million in funding from Shenzhen Refond Optoelectronics Co.,Ltd.
August 10, 2017
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Xunchi Vehicle Jiangsu Co., Ltd. announced that it will receive CNY 100,000,000 in equity round of funding on August 11, 2017. The transaction will include participation from new investor, Shenzhen Refond Optoelectronics Co.,Ltd. (SZSE:300241). Post the closing, the investor would hold 16.66% stake in the company. Post the closing, the registered capital of the company will increase from CNY 105,000,000 to CNY 205,000,000. The transaction was approved at the 13th session of the 3rd directorate of the investor and is subject to approval from its shareholder's. The company reported total assets of CNY 378,026,888.38, total liabilities of CNY 314,133,365.78, net assets of CNY 63,893,522.6, operating revenue of CNY 270,981,755.54, total profit of CNY 15,572,104.64, and net profit of CNY 13,586,718.21 for the year ended December 31, 2016.
SHENZHEN REFOND OPTOELECTRONICS CO., LTD. is principally engaged in the research and development of light emitting diode (LED) packaging technologies, as well as the manufacturing and sale of LED packaging products. The Company primarily provides high end backlight LED components and assemblies, LED components and assemblies for lighting, as well as LED components and assemblies for displaying, among others. The Company's products are widely used in the manufacture of liquid crystal display (LCD) televisions, computers and mobile phones, as well as daily use electronic products, urban lighting, indoor lighting, displays, industrial applications and automobiles, among others. The Company distributes its products in domestic and overseas markets, with Pearl River Delta region and Yangtze River Delta region as the main market.
SHENZHEN REFOND OPTOELECTRONICS CO.,LTD. 
