Inner Mongolia Xinyuan Silicon Material Technology Co., Ltd. announced that it expects to receive CNY 3.1375 billion in funding from Wuxi Shangji Automation Co., Ltd., Gaojia Solar Co., Ltd., Jiangsu Zhongneng Silicon Technology Development Co., Ltd.
October 07, 2021
Share
Inner Mongolia Xinyuan Silicon Material Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 3,137,500,000 on October 8, 2021. The transaction will include participation from returning investors Wuxi Shangji Automation Co., Ltd. for CNY 1,002,500,000, Jiangsu Zhongneng Silicon Technology Development Co., Ltd. for CNY 2,039,375,000, new investor Gaojia Solar (wuxi) Co., Ltd. for CNY 95,625,000. Post closing, the registered capital will increase from CNY 50,000,000 to CNY 3,187,500,000. The transaction has been approved in the thirty-fifth meeting of the third board of directors of Wuxi Shangji Automation Co., Ltd. The transaction still needs to be submitted to Wuxi Shangji Automation Co., Ltd. general meeting of shareholders for deliberation. Post the closing, Wuxi Shangji Automation Co., Ltd. will hold 32% equity stake, Gaojia Solar (wuxi) Co., Ltd. will hold 3% equity stake, Jiangsu Zhongneng Silicon Technology Development Co., Ltd. will hold 65% equity stake.
Hongyuan Green Energy Co Ltd, formerly HOYUAN Green Energy Co Ltd, is a China-based company mainly engaged in the manufacture of monocrystalline silicon products. The Company's main business includes the manufacturing of special equipment for machinery manufacturing and the production of new energy materials. The Company's products include monocrystalline silicon, semiconductor equipment, photovoltaic special equipment, general grinding machines, sapphire special equipment and others. The Company mainly operates its businesses in the domestic and overseas markets.
Inner Mongolia Xinyuan Silicon Material Technology Co., Ltd. announced that it expects to receive CNY 3.1375 billion in funding from Wuxi Shangji Automation Co., Ltd., Gaojia Solar Co., Ltd., Jiangsu Zhongneng Silicon Technology Development Co., Ltd.
HOYUAN GREEN ENERGY CO., LTD. 
