Forehope Electronic Limited Company announced that it expects to receive CNY 143.5 million in funding from Zhejiang Langdi Group Co., Ltd., TEDA Venture Capital Corporation Limited, Ningbo Yanyuan Century Equity Investment Co., Ltd., Ningbo Shouke Yanyuan Kangtai Venture Capital Partnership Enterprise (Limited Partnership)
December 20, 2019
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Forehope Electronic (Ningbo) Limited Company announced that it has signed an investment agreement of a private placement of 20.5 million common shares at a price of CNY 7 per share for gross proceeds CNY 143.5 million, of which CNY20.50 million will be added as registered capital, the remaining CNY 123 million will be added as capital reserve, on December 21, 2019. The transaction will include participation from Xiamen Lianhe Integrated Circuit Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) will subscribe to 4.50 million shares, Ningbo Yanyuan Yaoshang Chanrong Equity Investment Partnership Enterprise (Limited Partnership), a fund managed by Ningbo Yanyuan Century Equity Investment Co., Ltd. will subscribe to 2 million shares, TEDA Venture Capital Corporation Limited will subscribe to 1.50 million shares, Ningbo Shouke Yanyuan Kangtai Venture Capital Partnership Enterprise (Limited Partnership) will subscribe to 3 million shares, Ningbo Chenhe Enterprise Management Consulting Partnership Enterprise (Limited Partnership) will subscribe to 7.50 million shares and Zhejiang Langdi Group Co., Ltd. will subscribe to 2 million shares. Post the transaction the stake acquired by Zhejiang Langdi Group Co., Ltd. will decrease from 9.95% to 9.94%, Ningbo Yanyuan Yaoshang Chanrong Equity Investment Partnership Enterprise (L.P.) will increase from 1.72% to 2.24%, Xiamen Lianhe Integrated Circuit Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) will increase from 1.03% to 2.4%, TEDA Venture Capital Corporation Limited will increase fro 1.03% to 1.44% and the new investors Ningbo Shouke Yanyuan Kangtai Venture Capital Partnership Enterprise (Limited Partnership) and Ningbo Chenhe Enterprise Management Consulting Partnership Enterprise (Limited Partnership) will acquire 0.96% and 2.4% respectively. The transaction was approved in the 19th session of the company’s 5th directorate.
Zhejiang Langdi Group Co., Ltd. is principally engaged in the research and development, manufacture and sale of air-conditioning fan and fan products. The Company's major product is air-conditioning fan, which is mainly used in the air-conditioning system for both internal and external. Its products are divided into three categories according to operation model: backward-curved fans, axial-flow fans and forward-curved fans; and according to raw materials, divided into plastic fans and metal fans; according to purpose, divided into household air conditioning fans and commercial air conditioning fans. The Company's products are sold under the brand Langdi.
Forehope Electronic Limited Company announced that it expects to receive CNY 143.5 million in funding from Zhejiang Langdi Group Co., Ltd., TEDA Venture Capital Corporation Limited, Ningbo Yanyuan Century Equity Investment Co., Ltd., Ningbo Shouke Yanyuan Kangtai Venture Capital Partnership Enterprise (Limited Partnership)