Suzhou Maizhite Intelligent Technology Co., Ltd. announced that it expects to receive CNY 200 million in funding from Suzhou Secote Precision Electronic Co., Ltd.
September 24, 2018
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Suzhou Maizhite Intelligent Technology Co., Ltd. announced that it will receive CNY 200,000,000 in funding on September 25, 2018. The transaction will include participation from existing investor Suzhou Secote Precision Electronic Co., Ltd. (SHSE:603283). The investor continues to hold 100% stake in the company. The transaction has been approved the board of directors of the investor at its 4th session for its 2nd directorate meeting. Post capital increase, the registered capital of the company will increase from CNY 100,000,000 to CNY 300,000,000. The transaction is subject to shareholders approval. The company reported total assets of CNY 39,745,400, net assets of CNY 24,721,600, and net income of CNY 5,873,400 for the year ended December 31, 2017.
Suzhou Secote Precision Electronic Co Ltd is a company engaged in research and development, design, production and sales of intelligent manufacturing equipment and provision of related technical services. The Company's products are mainly comprised of automated equipment, fixtures and jigs, including small size tag labeling machines, bearing pressing equipment, automatic footwear glue pressing machines and so on. The products are used in a range of areas, including the new energy vehicle, semiconductor, lithium battery and consumer electronic, such as smartphones, tablets and laptops.
Suzhou Maizhite Intelligent Technology Co., Ltd. announced that it expects to receive CNY 200 million in funding from Suzhou Secote Precision Electronic Co., Ltd.
SUZHOU SECOTE PRECISION ELECTRONIC CO.,LTD 
