Zhongyeda New Energy Co., Ltd. announced that it has received CNY 50 million in funding from Zhongyeda Electric Co., Ltd..
April 21, 2015
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Zhongyeda New Energy (Shanghai) Co., Ltd. announced that it will receive CNY 50 million in an equity round of funding from a returning investor, Zhongyeda Electric Co., Ltd. on January 29, 2015. The investor will maintain its stake at 100% in the company. Upon closing, the registered capital of the company will increase from CNY 50 million to CNY 100 million. The transaction has been approved in the 10th meeting of the 3rd directorate of the investor and does not need the approval of the shareholders of the investor.
On April 22, 2015, Zhongyeda New Energy (Shanghai) Co., Ltd. closed the transaction. The company completed the registration modification procedures and obtained the business license issued by the Administration for Industry and Commerce of Shanghai.
ZHONGYEDA ELECTRIC CO., LTD is a China-based distributor of industrial electrical products. The Company operates its businesses through the wholesale of energy, materials and mechano-electronic equipment, and electric equipment and machinery manufacturing business. The Company's products include low-voltage electrical products, medium voltage electrical products, industrial control products and others. The Company also provides system integration and sets manufacturing. The Company distributes its products within domestic market and to overseas markets.