Chengdu Huasun Technology Group Inc., Ltd. announced that it expects to receive CNY 299.999998 million in funding from Chengdu Yuanhong Biological Technology Co., Ltd.
January 19, 2021
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Chengdu Huasun Technology Group Inc., Ltd. announced a private placement of no more than 85,470,085 A shares at a price of CNY 3.51 per share for gross proceeds of not more than CNY 299,999,998 on January 20, 2021. As a part of the transaction, Chengdu Yuanhong Biological Technology Co., Ltd. will hold 28.06% stake in the company. The transaction has been approved by the board of directors, and needs to be approved by the shareholders, necessary regulatory authorities, and the China Securities Regulatory Commission. The company has signed subscription agreement with the investor. All securities issued will be subject to restriction period of 18 months from the date of closing.
Chengdu Huasun Technology Group Co Ltd, formerly Chengdu Taihe Health Technology Group Inc., Ltd., is principally engaged in manufacture and distribution of Chinese medicines and Western medicines, fabrication and installation services of steel structures, as well as production and sale of bio-engineering products. The Company primarily provides Chinese medicines, Western medicines, biological drugs, veterinary drugs and veterinary biological vaccines, as well as modern steel structures. Its pharmaceutical products include oral liquid, capsules, biological products and veterinary drugs, among others. The Company operates its businesses primarily in the China domestic market, with Sichuan province as its main market.
Chengdu Huasun Technology Group Inc., Ltd. announced that it expects to receive CNY 299.999998 million in funding from Chengdu Yuanhong Biological Technology Co., Ltd.