Kashgar New Material Technology Co., Ltd. announced that it expects to receive CNY 17 million in funding from Dongguan Yezhi Electronic Technology Co., Ltd., Jiangsu Zhenjiang Gulina New Energy Technology Partnership (Limited Partnership), Shandong Zhangqiu Blower Co., Ltd, Shanghai Anpai Youtai Technology Co., Ltd.
February 17, 2021
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Kashgar New Material Technology Co., Ltd. announced that it will receive CNY 17,000,000 in an equity round of funding on February 18, 2021. The transaction will include participation from returning investors Dongguan Yezhi Electronic Technology Co., Ltd. for CNY 8,400,000 and post transaction stake of 42%, Jiangsu Zhenjiang Gulina New Energy Technology Partnership (Limited Partnership) for CNY 5,600,000 and post transaction stake of 28%, new investors Shandong Zhangqiu Blower Co., Ltd (SZSE:002598) for CNY 4,000,000 and 20% stake, Shanghai Anpai Youtai Technology Co., Ltd for CNY 2,000,000 and 10% stake in the company. As a part of transaction, the registered capital will increase from CNY 3,000,000 to CNY 20,000,000.
Shandong Zhangqiu Blower Co., LTD is a China-based company principally engaged in the research, development, design, manufacture and sale of blowers, slurry pumps, pneumatic conveying products, mining machinery and electrical start-up cabinets. The Company's main products include Roots blowers, multistage centrifugal blowers and ventilators. The Company's products are used in electric power, petroleum, chemical, fertilizer, steel, smelting, oxygen production, cement, food, textile, papermaking, dusting, aquaculture, sewage treatment, pneumatic conveying and air separation industries. The Company distributes its products in domestic market.
Kashgar New Material Technology Co., Ltd. announced that it expects to receive CNY 17 million in funding from Dongguan Yezhi Electronic Technology Co., Ltd., Jiangsu Zhenjiang Gulina New Energy Technology Partnership (Limited Partnership), Shandong Zhangqiu Blower Co., Ltd, Shanghai Anpai Youtai Technology Co., Ltd.