Huizhou TVT Digital Technology Co., Ltd. announced that it expects to receive CNY 278.2 million in funding from Shenzhen TVT Digital Technology Co., Ltd.
December 27, 2016
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Huizhou TVT Digital Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 278,200,000 on December 28, 2016. The transaction will include participation from returning investor Shenzhen TVT Digital Technology Co., Ltd. (SZSE:002835) to retain its 100% stake in the company. Out of the total amount, CNY 25,000,000 will be added towards registered capital and CNY 253,200,000 will be added towards the capital reserve of the company. The registered capital of the company will increase from CNY 15,000,000 to CNY 40,000,000. The transaction has been approved by the board of directors of the investor at its 9th meeting of its 2nd directorate. The company has reported total assets of CNY 61,095,900, net assets of CNY 12,940,400, and net loss of CNY 531,800 for the year ended December 31, 2015.
SHENZHEN TVT DIGITAL TECHNOLOGY CO., LTD. is a China-based company principally engaged in the research and development, manufacture and sales of security video surveillance products such as hard disk recorders, cameras and video surveillance management platforms. The Company's main products include front-end network high definition (HD) cameras, analog HD cameras, high-speed dome cameras, as well as back-end network HD recorders, analog HD recorders, platform centralized storage devices, streaming media forwarding devices and decoding display devices. Its products also include smart products such as face capture cameras, smart application cameras and smart video recorders. The Company mainly distributes its products to overseas markets.
Huizhou TVT Digital Technology Co., Ltd. announced that it expects to receive CNY 278.2 million in funding from Shenzhen TVT Digital Technology Co., Ltd.