East Intelligent System Integration Co., Ltd. announced that it expects to receive CNY 32.65 million in funding from East Group Co., Ltd.
January 19, 2017
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East Intelligent System Integration Co., Ltd. announced that it will receive CNY 32,650,000 in a round of equity funding from existing investor East Group Co., Ltd. (SZSE:300376) on January 20, 2017. Post the closing, the registered capital of the company will increase from CNY 100,000,000 to CNY 132,650,000 and the stake of the investor will increase from 35% to 51%. The transaction has been approved at the 38th meeting of the 4th directorate of the investor and does not need the shareholders’ approval.
East Group Co Ltd is a China-based company principally engaged in the provision of integration solutions for photovoltaic products. The Company is involved in the research and development, manufacture and sales of power supplies, data centers, photovoltaic inverters, system integration solutions, as well as new energy vehicles and its charging facilities, among others. Photovoltaic inverters include grid-connected inverters and string inverters. New energy vehicles and charging facilities include purchased new energy vehicles, one-stop outdoor charging tanks, alternating current charging piles and direct current charging piles, among others. The Company operates businesses in domestic and overseas markets.
EAST GROUP CO.,LTD 
