Tongling Huaxiang Asset Management Co., Ltd. announced that it expects to receive CNY 200 million in funding from WenYi Trinity Technology Co., Ltd, Shanghai Xiangfeng Investment Co., Ltd.
July 21, 2020
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Tongling Huaxiang Asset Management Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 200,000,000 on July 22, 2020. The transaction will involve participation from existing investors, Shanghai Xiangfeng Investment Co., Ltd. CNY 145,000,000 and WenYi Trinity Technology Co., Ltd (SHSE:600520) for CNY 55,000,000. Post-closing of the transaction, the registered capital of the company will increase from CNY 200,000,000 to CNY 400,000,000. Post-closing of the transaction, Shanghai Xiangfeng Investment Co., Ltd. will hold 73.75% stake and WenYi Trinity Technology Co., Ltd (SHSE:600520) will hold 26.25% stake in the company. The transaction has been approved by the board of directors of WenYi Trinity Technology Co., Ltd at its tenth meeting of the seventh directorate. The transaction does not need to be submitted to its shareholders for approval.
WenYi Trinity Technology Co Ltd is a China-based company principally engaged in the research and development, production and sales of molds and precision spare parts. The Company mainly operates two segments. Mold Product segment mainly designs, manufactures and sells semiconductor integrated circuit packaging and testing equipment, molds, automatic cutting and molding systems and automation equipment, as well as designs, develops, manufactures and sells extrusion molds and extrusion supporting equipment. Hardware Precision Parts segment includes precision parts manufacturing, bearing seats and supporting injection molding parts business. The Company's main products include plastic profile extrusion molds, electronic plastic packaging molds, packaging robot integrated systems, plastic packaging presses, systems, punching and molding systems and other products. The Company distributes its products within the domestic market and to overseas markets.
Tongling Huaxiang Asset Management Co., Ltd. announced that it expects to receive CNY 200 million in funding from WenYi Trinity Technology Co., Ltd, Shanghai Xiangfeng Investment Co., Ltd.