XGD Inc. announced that it expects to receive CNY 230 million in funding
On August 19, 2014, the company amended the terms of the transaction. The company will now issue 15,603,797 shares at no less than CNY 14.74 per share for gross proceeds of CNY 230,000,000. Liu Xiu, Liu Ya, and Jiang Han will now invest CNY 138,000,000, CNY 46,000,000, and CNY 46,000,000 in the transaction respectively. On the same date, the transaction was approved at the 4th session of the 3rd directorate of the company. The company reported total assets of CNY 92,148,900, total liabilities of CNY 27,048,200, total owners' equity of CNY 65,100,800, operating revenues of CNY 96,752,600, operating profit of CNY 34,146,100, total profit of CNY 37,228,100, and net profit of CNY 34,578,600 for the year ended December 31, 2013. Zhong Lun Law Firm acted as the legal advisor to the company.
On September 4, 2014, the transaction was approved at the 2014 3rd special shareholders' meeting of the company.