South Huiton Co., Ltd. announced that it expects to receive CNY 407.5 million in funding from CRRC Industrial Investment Co., Ltd., CHINA ENERGY LONGYUAN ENVIRONMENTAL PROTECTION CO., LTD.
September 14, 2021
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South Huiton Co., Ltd. announced that it has entered into Strategic Cooperation Agreement and Subscription Agreement with CHINA ENERGY LONGYUAN ENVIRONMENTAL PROTECTION CO., LTD. and returning investor CRRC Industrial Investment Co., Ltd. for the issue of 25,000,000 Shares each at a subscription price of CNY 8.15 per Share for the gross proceeds of CNY 407,500,000 on September 15, 2021. The securities have lock up period of 36 months from the date of completion of the Non-public Issuance. The transaction has been approved in the 30th Meeting of the Company’s 6th Directorate and the 14th Meeting of the 6th Supervisory Board and is subject to the approvals of CRRC Group Co., Ltd., the Company’s Shareholders, and the China Securities Regulatory Commission.
Vontron Technology Co Ltd, formerly South Huiton Co Ltd, is a China-based company mainly engaged in chemical business. The Company operates four segments: Membrane Products segment, Plant Fiber Products segment, Membrane Separation segment and Reclaimed Water Reuse segment. The Membrane Products segment is mainly engaged in the research and development (R&D), manufacturing and service of composite reverse osmosis membrane, nanofiltration membrane and ultrafiltration membrane products. The products are divided into household membrane and industrial membrane. The Plant Fiber Products segment is mainly engaged in the R&D, manufacturing and sales of plant fiber elastic materials and products and palm comprehensive development products. The Membrane Separation segment provides overall solutions for membrane separation, including technical scheme design, engineering design, etc.
South Huiton Co., Ltd. announced that it expects to receive CNY 407.5 million in funding from CRRC Industrial Investment Co., Ltd., CHINA ENERGY LONGYUAN ENVIRONMENTAL PROTECTION CO., LTD.