Xingzhiyoudao Auto Service Co ., Ltd. announced that it expects to receive CNY 50 million in funding from Sunwoda Electronic Co.,Ltd
April 15, 2018
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Xingzhiyoudao Auto Service Co ., Ltd. announced that it will receive CNY 50,000,000 in an equity round of funding from existing investor Sunwoda Electronic Co.,Ltd (SZSE:300207) on April 16, 2018. Post-closing of the transaction, the stake of investor in the company will increase from 10.16% to 32.62% and registered capital of the company will increase from CNY 25,000,000 to CNY 33,333,300. The transaction has been approved by the board of directors of the investor at the 6th session of its 4th directorate. The company reported total assets of CNY 18,476,299.93, total liabilities of CNY 26,297,766.55, net assets of CNY -7,821,466.62, revenue of CNY 6,431,914.06, total profit of CNY -16,304,982.67, and net profit of CNY -16,304,982.67 for the year ended December 31, 2017.
SUNWODA ELECTRONIC CO., LTD is a China-based company principally engaged in the development, design, production and sale of lithium ion battery modules. The Company operates through two main segments: Industrial Manufacturing segment and Inspection Services segment. The Companyâs lithium ion battery modules include mobile phone and digital series, motor vehicle and power series, precise structural parts series, power management series, laptop series, lithium ion cells, energy storage systems, intelligent hardware series, intelligent manufacture series and others.
SUNWODA ELECTRONIC CO.,LTD 
