Suzhou Create Group Finance Co., Ltd. announced that it expects to receive CNY 150 million in funding from Create Technology & Science Co.,Ltd., Suzhou Chuangyuan Investment Development Co., Ltd., Create Industrial Investment Development Co., Ltd
December 13, 2022
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Suzhou Create Group Finance Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 150 million in a round of funding on December 14, 2022. The transaction will include participation from returning investors, Create Technology & Science Co.,Ltd. for CNY 15 million, Suzhou Chuangyuan Investment & Development (Group) Co., Ltd. for CNY 120 million and Create Industrial Investment Development Co., Ltd for CNY 15 million. After the completion of this capital increase, the registered capital of company will increase from CNY 600 million to CNY 750 million. The capital increase still needs to be approved by the competent state-owned assets management department and the Jiangsu Supervision Bureau of the China Banking and Insurance Regulatory Commission. The transaction has been approved by the board of directors in its eighth interim meeting of the tenth board of directors in 2022. The transaction still needs to be reviewed and approved by the company's shareholders'.
In April 2023, the company received approval from the State-owned Assets Supervision and Administration Commission of the Suzhou Municipal People's Government on the capital increase project of Suzhou Create Group Finance Co., Ltd.. ( Su Guozigai [2023] No. 35), agreeing to the capital increase project of the finance company.
CREATE TECHNOLOGY & SCIENCE CO., LTD. is a China-based company mainly engaged in the manufacturing of special equipment and instruments. The Company operates through six business segments. The Clean and Environmental Protection Equipment and Installation segmentâs products include air cleaning equipment and systems, biosafety equipment and systems, energy saving and environmental protection equipment and systems, gas purification equipment and systems. The Transmission and Distribution High-voltage Insulator segment is engaged in the research and development, production and sales of various types of insulators. The Precision Bearing segment is engaged in the development, production and sales of bearings and rolling elements. The Company also operates the Measurement Instruments segment, Abrasives Abrasives segment and Trade and Services segment. The Company operates it businesses primarily within the domestic market.
Suzhou Create Group Finance Co., Ltd. announced that it expects to receive CNY 150 million in funding from Create Technology & Science Co.,Ltd., Suzhou Chuangyuan Investment Development Co., Ltd., Create Industrial Investment Development Co., Ltd