Xi'an Tianhe Defense Technology Co., Ltd. announced that it has received CNY 589.999985 million in funding from a group of investors
August 17, 2021
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On August 18, 2021, Xi'an Tianhe Defense Technology Co., Ltd. closed the transaction. The company issued 38,587,311 shares at a price of CNY 15.29 per share for gross proceeds of CNY 589,999,985.19 in the transaction. The transaction included participation from Shaanxi Financial Assets Management Co., Ltd. for CNY 39,999,985.52, Qingdao Zhongshi Jiasheng Equity Investment Management Center (Limited Partnership), a fund managed by Zhongshi Fortune (Beijing) Investment Fund Management Co., Ltd. for CNY 29,999,989.14, Ningju Yingshanhong No. 9 Private Securities Investment Fund, a fund managed by Ningbo Ningju Asset Management Center (Limited Partnership) for CNY 19,999,992.76, Nuode Asset Management Co., Ltd. for CNY 11,200,047.32, new investors China Galaxy Securities Co., Ltd., Investment Arm for CNY 101,999,987.54 for a 1.29% stake, Caitong Fund Management Co., Ltd. for CNY 66,799,991.72 for a 0.84% stake and new individual investors Chen Chuanxing for CNY 169,999,999.62 for a 2.15% stake and Xu Guoxin for CNY 149,999,991.57 for a 1.9% stake. The company received net proceeds of CNY573,363,727.96 after deducting issuance fees.
Xi'an Tian He Defense Technology Co., Ltd. is mainly engaged in the development, manufacture and sales of reconnaissance, command and control systems and the trading of related technologies. The Company has four categories of products. Area air defense products include portable air defense missile command systems, field communication intelligent systems and target-guiding radars, among others. General aviation systems include flight service assurance systems and airport ground monitoring radars, among others. Security protection products include frontier inspection vehicles and radars, among others. Marine detection products include water sound fences, sonar systems and underwater reconnaissance systems, among others.