Hunan Boyun-Dongfang Powder Metallurgy Co., Ltd. announced that it expects to receive CNY 499.9549 million in funding from Hunan Boyun New Materials Co.,Ltd, Bangxin Asset Management Co., Ltd.
July 23, 2020
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Hunan Boyun-Dongfang Powder Metallurgy Co., Ltd. announced that it will receive CNY 499,954,900 in an equity round of funding on July 24, 2020. The transaction will include participation from returning investors including Hunan Boyun New Materials Co.,Ltd (SZSE:002297) for CNY 424,961,700 controlling 85% stake and Bangxin Asset Management Co., Ltd. for CNY 74,993,200 controlling 15% stake respectively both before and after the transaction. The transaction has been approved in the 9th meeting of 6th directorate of Hunan Boyun New Materials Co.,Ltd (SZSE:002297) and is subject to its shareholders approval.
HUNAN BOYUN NEW MATERIALS CO., LTD. is a China-based company principally engaged in the research and development, manufacturing and sales of powder metallurgy composite materials. The Company's main products include aircraft brake materials, aerospace and civilian carbon and carbon composites, environmentally friendly high-performance automotive brake materials, high-performance mold materials and rare metal powder metallurgy materials. The Company's products are mainly used in the aviation, aerospace and civilian industries. The Company distributes its products in domestic and overseas markets.
Hunan Boyun-Dongfang Powder Metallurgy Co., Ltd. announced that it expects to receive CNY 499.9549 million in funding from Hunan Boyun New Materials Co.,Ltd, Bangxin Asset Management Co., Ltd.
HUNAN BOYUN NEW MATERIALS CO.,LTD 
