Shanghai Linke Automation Technology Co., Ltd. announced that it expects to receive CNY 15 million in funding from Shanghai YongLi Belting Co., Ltd, Shanghai Zongheng Enterprise Management Partnership (Limited Partnership)
November 12, 2020
Share
Shanghai Linke Automation Technology Co., Ltd. announced that it will receive CNY 15,000,000 in an equity round of funding on November 13, 2020. The company announced that it has entered into capital Increase and share expansion agreement with existing investor Shanghai YongLi Belting Co., Ltd (SZSE:300230) for CNY 7,000,000 and new investor Shanghai Zongheng Enterprise Management Partnership (Limited Partnership) for CNY 8,000,000. Post transaction Shanghai YongLi Belting Co., Ltd (SZSE:300230) will hold 60% stake, Shanghai Zongheng Enterprise Management Partnership (Limited Partnership) will hold 40% stake in the company. The company will issue shares at par value. The registered capital of the company will increase from CNY 5,000,000 to CNY 20,000,000. The transaction do not need to be submitted to the board of directors and shareholders for approval.
Shanghai Yongli Belting Co., Ltd. is a China-based company principally engaged in the research, development, production and distribution of light type conveyer belts. The Companyâs main businesses include research, development, production and distribution of light type conveyer belts, automotive and home appliances mold plastic parts, electronics, telecommunications and precision toys mold plastic parts, as well as automatic sorting system. Through its subsidiaries, the Company is also engaged in investment and management of assets.
Shanghai Linke Automation Technology Co., Ltd. announced that it expects to receive CNY 15 million in funding from Shanghai YongLi Belting Co., Ltd, Shanghai Zongheng Enterprise Management Partnership (Limited Partnership)