Jiangsu General Science Technology Co., Ltd. announced that it has received CNY 884.999999 million in funding from Anqing Tongan Industry Investment Fund (Limited Partnership), Hangzhou Lexin Investment Management Co., Ltd., Shanghai Changfu Investment Management Co., Ltd., Jiangsu Incho Capital Management Co.,Ltd.
June 15, 2021
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On June 16, 2021, Jiangsu General Science Technology Co., Ltd. closed the transaction. The transaction involved participation from Anqing Tongan Industry Investment Fund (Limited Partnership) for CNY 478,000,013.22, Lexin Feitian No. 1 Private Securities Investment Fund, a fund managed by Hangzhou Lexin Investment Management Co., Ltd. for CNY 148,999,998.51, Incho Hybrid Strategy No. 5 Private Securities Investment Fund, a fund managed by Jiangsu Incho Capital Management Co.,Ltd. for CNY 47,999,999.85, Changfu Yerong No. 1 Private Equity Securities Investment Fund, a fund managed by Shanghai Changfu Investment Management Co., Ltd. for CNY 39,999,996.15, Wang Zhefeng for CNY 49,999,998.54, Huang Zhen for CNY 29,999,998.23, Niu Meiling for CNY 29,999,998.23, Jin Hongzhu for CNY 29,999,998.23, and Zhang Yuexian for CNY 29,999,998.23. The company issued 197,986,577 shares at an issue price of CNY 4.47 per share for gross proceeds of CNY 884,999,999.19 at the Shanghai Branch of China Depository and Clearing Co., Ltd. to complete the registration and custody procedures. The face value of the shares issued is CNY 1 per share. The company paid the issuance expenses of CNY 13,061,988.61. The capital reserve will be CNY 673,951,433.58, post the closing.
Jiangsu General Science Technology Co Ltd is a China-based company mainly engaged in the research and development, manufacture and sales of tire. The main products of the Company are whole-steel radial tire, half steel radial tire and bias tire. Whole-steel radial tire products include short-haul mining type tires, short to medium-haul bearing type tires, medium to long-haul highway transportation type tires and light car type tires, among others. The Company owns product brands such as Qianlima, Chituma and Tongyun. The Company distributes its products in domestic and to overseas markets.
Jiangsu General Science Technology Co., Ltd. announced that it has received CNY 884.999999 million in funding from Anqing Tongan Industry Investment Fund (Limited Partnership), Hangzhou Lexin Investment Management Co., Ltd., Shanghai Changfu Investment Management Co., Ltd., Jiangsu Incho Capital Management Co.,Ltd.