Tianjin Bohai Petrochemical Co., Ltd. announced that it expects to receive CNY 680 million in funding from Tianjin Global Magnetic Card Co., Ltd.
December 27, 2020
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Tianjin Bohai Petrochemical Co., Ltd. announced that it will receive CNY 680,000,000 in an equity round of funding on December 28, 2020. The transaction will include participation from returning investor Tianjin Global Magnetic Card Co., Ltd. (SHSE:600800) to retain 100% stake in the company. Post closing, the registered capital of the company will increase from CNY 1,800,000,000 to CNY 2,480,000,000. The transaction has been approved in the 9th meeting of the 9th directorate and 9th meeting of the 9th supervisory board of the investor.
Tian Jin Bohai Chemical Co Ltd, formerly Tian Jin Global Magnetic Card Co Ltd, is a China-based company principally engaged in the manufacturing and sales of magnetic cards, smart card application systems and related equipment. The Company operates through magnetic card segment, printing segment and equipment segment. The Company's data card products include magnetic stripe cards and smart cards. The printed products include packaging and decorating products, publications and tickets. The smart card applications and related equipment products include city card management system and related equipment, cards and others. The Company is also engaged in modern petrochemical business, and its main products are propylene products. The Company mainly conducts its businesses in the domestic and to overseas markets.
TIAN JIN BOHAI CHEMICAL CO.,LTD. 
