Huangshi Honghe Electronic Material Technology Co., Ltd. announced that it expects to receive CNY 335 million in funding from Grace Fabric Technology Co.,Ltd.
August 25, 2020
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Huangshi Honghe Electronic Material Technology Co., Ltd. announced that it will receive CNY 335,000,000 in a round of funding on August 26, 2020. The transaction will include participation from returning investor Grace Fabric Technology Co.,Ltd. (SHSE:603256) to retain its 100% stake in the company. Post closing of the transaction, the registered capital of the company will increase from CNY 340,000,000 to CNY 675,000,000. The transaction has been approved at the ninth meeting of the second board of directors and the sixth meeting of the second board of supervisors and does not need its shareholder approval.
GRACE FABRIC TECHNOLOGY CO., LTD is a China-based company principally engaged in the research and development, production and sales of medium and high-end electronic grade fiberglass cloth. The Company's main products are medium and high-end electronic grade glass fiber cloth products, mainly including extremely thin electronic grade glass fiber cloth, super thin electronic grade glass fiber cloth and thin electronic grade glass fiber cloth. The Company's products are widely used in high-end smart phones, tablets and notebooks, servers, automotive electronics and other high-tech electronics. The Company mainly distributes its products in the domestic market.
Huangshi Honghe Electronic Material Technology Co., Ltd. announced that it expects to receive CNY 335 million in funding from Grace Fabric Technology Co.,Ltd.
GRACE FABRIC TECHNOLOGY CO.,LTD. 
