Shenzhen Casic Motor System Co.,Ltd. announced that it expects to receive CNY 45 million in funding from Guizhou Space Appliance Co., LTD, CASIC Shenzhen Company, Limited
June 10, 2024
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Shenzhen Casic Motor System Co.,Ltd. announced that it will receive CNY 45 million in an equity round of funding on June 11, 2024. The transaction include the participation from returning investors Guizhou Space Appliance Co., LTD for CNY 30,600,000 and hold 68% stake and CASIC Shenzhen (Group) Company, Limited, for CNY 14,400,000 and hold 32% stake in the company. After the capital increase is completed, the registered capital is increased from CNY 5 million to CNY 50 million.
The transaction has been approved at the 4th extraordinary meeting of the 7th Board of Directors of the Company in 2024.
Guizhou Space Appliance Co., LTD is principally engaged in the research, development, manufacture and sale of electronic components. The Company primarily offers relay series, including temperature relays, timing relays, special relays, counterbalance relays sealed electromagnetic relays and solid state relays; connector series, including airproof connectors, radio frequency (RF) coaxial connectors and optical fiber connectors, among others, as well as electrical motors, including servo motors, brushless direct current motors and direct current torque motors, among others. The Company's products are mainly applied in space, aviation, electronics, communications, industrial control, precision instruments, ships, satellites and other industries. The Company distributes its products throughout China.
Shenzhen Casic Motor System Co.,Ltd. announced that it expects to receive CNY 45 million in funding from Guizhou Space Appliance Co., LTD, CASIC Shenzhen Company, Limited
GUIZHOU SPACE APPLIANCE CO., LTD 
