ROFS MICROSYSTEM Co., Ltd. announced that it expects to receive CNY 4.4 million in funding from Tianjin Jingwei Huikai Optoelectronic Co., Ltd.
July 14, 2020
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ROFS MICROSYSTEM (TIANJIN) Co., Ltd. announced that it has entered into an equity investment agreement for a private placement of common shares for gross proceeds of CNY 4.4 million on July 15, 2020. The transaction will include participation from new investor Tianjin Jingwei Huikai Optoelectronic Co., Ltd. (SZSE:300120). The transaction has been reviewed and approved at the 33rd meeting of the fourth board of directors of the investor and still needs to be submitted to the general meeting of shareholders. Upon completion. the investor will own 0.4% of target's equity. The transaction will be completed in tranches. The company will receive CNY 2.2 million in its first tranche within 3 working days and the remaining 50% shall be paid, which is CNY 2.2 million within 3 working days after target completes the change of industrial and commercial registration of the equity.
Tianjin Jingwei Huikai Optoelectronic Co Ltd is a company mainly engaged in research and development, production and sales of touch display products. The Company's products are comprised of touch displays, electromagnetic wires and reactors. The touch displays products include liquid crystal display modules, touch display modules and protection screens, which are applied in automotive displays, medical equipment, industrial control, consumer electronics and other areas. The electromagnetic wires products include film covered wires, aluminum wires and copper wires, which are used in electrical equipment, household appliances and communications. The Company sells its products in both domestic and international markets, including the United States and Europe.