Inner Mongolia Zhonghuan Solar Material Co., Ltd. announced that it expects to receive CNY 600 million in funding from Tianjin Zhonghuan Semiconductor Co., Ltd., Tianjin Huanou Semiconductor Material Technology Co., Ltd.
May 20, 2018
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Inner Mongolia Zhonghuan Solar Material Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 600,000,000 on May 21, 2018. The transaction will include participation from the returning investors Tianjin Zhonghuan Semiconductor Co., Ltd. (SZSE:002129) for CNY 474,480,000 and Tianjin Huanou Semiconductor Material Technology Co., Ltd. for CNY 125,520,000. Post this transaction, the both the investors will continue to hold 79.08% and 20.92% of stake respectively. Post capital increase, the registered capital of the company will increase from CNY 4,872,900,000 to CNY 5,472,900,000. The transaction was approved by the board of directors of Tianjin Zhonghuan Semiconductor Co., Ltd. (SZSE:002129) in its 5th directorate in its 9th meeting.
Tianjin Zhonghuan Semiconductor Co., Ltd. (TJSEMI) specializes in the manufacturing and marketing of integrated semiconductor devices for solar energy saving industry. Net sales break down by activity as follows:
- manufacturing of semiconductor materials used in the renewable energy industry (91.1%): monocrystalline silicon wafers, photovoltaic cells, solar modules, etc. used in photovoltaic power generation facilities, new energy electric vehicles, wind inverters and smart transmission networks;
- manufacturing of semiconductors for the consumer electronics industry (8%);
- services (0.1%);
-other (0.8%).
China accounts for 75.3% of net sales.
Inner Mongolia Zhonghuan Solar Material Co., Ltd. announced that it expects to receive CNY 600 million in funding from Tianjin Zhonghuan Semiconductor Co., Ltd., Tianjin Huanou Semiconductor Material Technology Co., Ltd.
TCL ZHONGHUAN RENEWABLE ENERGY TECHNOLOGY CO.,LTD. 
