Nanjing Fiberglass Research & Design Institute Co., Ltd. announced that it expects to receive CNY 100 million in funding from Sinoma Science & Technology Co., Ltd.
June 12, 2017
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Nanjing Fiberglass Research & Design Institute Co., Ltd. announced that it will receive CNY 100,000,000 in an equity round of funding on June 13, 2017. The transaction will include participation from existing investor, Sinoma Science & Technology Co., Ltd. (SZSE:002080). Post transaction, the investor will retain 100% stake in the company. The registered captial of the company will increase from CNY 17,680,000 to CNY 117,680,000. The transaction was approved at the 22nd session of the 5th directorate meeting of Sinoma Science & Technology Co., Ltd. (SZSE:002080) and does not require the approval of its shareholders’ meeting. The company reported total assets of CNY 352,664,700, net assets of CNY 93,536,100, operating revenues of CNY 34,612,700, and net loss of CNY 3,658,100 for the year ended December 31, 2016.
Sinoma Science & Technology Co., Ltd. is a China-based company, principally engaged in the research, development, manufacture and distribution of special fiber composite materials. The Company is also engaged in the provision of special fiber composite materials related technical support and equipment, as well as the trading business. The Company's products include wind turbine blades, non-alkali fiberglass and products, high pressure cylinders, glass fiber paper, high temperature filter materials, advanced composite materials and lithium battery diaphragms. The Company distributes its products within domestic market and to overseas markets.
Nanjing Fiberglass Research & Design Institute Co., Ltd. announced that it expects to receive CNY 100 million in funding from Sinoma Science & Technology Co., Ltd.
SINOMA SCIENCE & TECHNOLOGY CO.,LTD. 
