Shenzhen Weichuang Automatization Equipment Co., Ltd. announced that it expects to receive CNY 545.352183 million in funding from Jiangsu Wuyang Parking Industry Group Co.,Ltd.
May 17, 2020
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Shenzhen Weichuang Automatization Equipment Co., Ltd. announced that it will receive CNY 545,352,183.89 in an equity round of funding on May 18, 2020. The transaction will include participation from returning investor Jiangsu Wuyang Parking Industry Group Co.,Ltd. (SZSE:300420). Post the closing, the investor will continue to retain its 100% stake in the company. Out of the total proceeds, CNY 538,000,000 will go to registered capital and CNY 7,352,183.89 to capital reserve. Pursuant to the transaction, the registered capital of the company will increase from CNY 200,000,000 to CNY 738,000,000. The transaction has been approved in Jiangsu Wuyang Parking Industry Group Co.,Ltd. (SZSE:300420)'s 23rd meeting of 3rd directorate and 15th meeting of the 3rd supervisory board, and does not need the shareholders' approval.
Jiangsu Wuyang Automation Control Technology Co Ltd, formerly Jiangsu Wuyang Parking Industry Group Co Ltd, is a China-based company principally engaged in the research and development, design, production and sale of bulk materials handling devices and related equipment. The Company's manufacturing business includes core bulk material handling equipment, mechanical parking equipment, automated production line equipment, intelligent logistics and warehousing systems, two-station and machine-made sand equipment. The Company's investment and operation business includes urban parking resource acquisition and parking lot operation and management.
Shenzhen Weichuang Automatization Equipment Co., Ltd. announced that it expects to receive CNY 545.352183 million in funding from Jiangsu Wuyang Parking Industry Group Co.,Ltd.
JIANGSU WUYANG AUTOMATION CONTROL TECHNOLOGY CO., LTD. 
