Changsha Mande Gas Co.,Ltd announced that it expects to receive CNY 26.6634 million in funding from Suzhou Jinhong Gas Co.,Ltd.
July 29, 2021
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Changsha Mande Gas Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 26,663,400 from new investor, Suzhou Jinhong Gas Co., Ltd. on July 30, 2021. The transaction has been approved in the 29th Meeting of investor's 4th Directorate and does not need the shareholders' approval. As a part of the transaction, the investor will hold 10% stake through capital increase and will hold total 70% stake in the company.
Jinhong Gas Co Ltd, formerly Suzhou Jinhong Gas Co Ltd is a China-based company mainly engaged in the research and development, production and sales of gas. The Company provides customers with specialty gases, bulk gases and natural gas. The specialty gases include ultrapure ammonia, hydrogen, nitrous oxide, dry ice, silane, helium, gas mixtures, medical gases and fluorocarbons. The bulk gases include oxygen, nitrogen, argon, carbon dioxide and acetylene. The Company's main gas supply modes are bottled gas supply, storage tank gas supply and on-site gas production. The Company's products are mainly used in integrated circuits, liquid crystal panels, light emitting diodes (LED), optical fiber communications, photovoltaics, medical health, energy conservation and environmental protection, new materials, new energy, high-end equipment manufacturing, food, metallurgy, chemical industry, machinery manufacturing and other fields.
JINHONG GAS CO.,LTD. 
