Huhu Health Technology Co., Ltd. announced that it expects to receive CLP 12 million in funding from Mingyue Optical Lens Co.,Ltd., Shanghai Mingyue Industrial Co., Ltd. and another investor.
January 23, 2024
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Huhu Health Technology (Hangzhou) Co., Ltd. announced that it will receive CNY 12 million in an equity round of funding on January 24, 2024. The transaction will include participation from new investors, Mingyue Optical Lens Co.,Ltd. for CNY 6 million to subscribe for CNY 146,300 new registered capital for 14.630% stake, Shanghai Mingyue Industrial Co., Ltd. for CNY 3.60 million to subscribe for CNY 87,800 of new registered capital for 8.780% stake and individual investor, Zeng Zhe for CNY 2.40 million to subscribe for new registered capital of CNY 58,500 for 5.850% stake. Out of CNY 12 million, CNY 292,700 will be included in the registered capital, and the remaining funds of CNY 11,707,300 will be included in the capital reserve. The transaction will be carried out in three installments. The final amount of capital contribution and shareholding ratio of each party to the capital increase shall be subject to the actual signed agreement.
The first trance will be carried out within ten working days after the signing of agreement, Mingyue Optical Lens Co.,Ltd. will pay CNY 3 million. The second tranche will be carried out within ten working days after the company completes the agreed business and key personnel indicators within six months from the date of signing the agreement, Mingyue Optical Lens Co.,Ltd. will pay CNY 3 million, Shanghai Mingyue Industrial Co., Ltd. will pay CNY 1 million. The third installment will be carried out within ten working days after the company completes the agreed business and team member targets within twelve months from the date of signing the agreement, Shanghai Mingyue Industrial Co., Ltd. will pay CNY 2.60 million and Zeng Zhe will pay CNY 2.40 million yuan.
Mingyue Optical Lens Co Ltd is a China-based company mainly engaged in the research and development, design, production and sales of lenses, lens materials, finished glasses, frames and other products. The Company conducts its business through two segments. The Raw Materials segment is engaged in the research and development and production of lens materials including 1.71, KR resin, KR super tough, PMC super bright and others. The Ophthalmic Products segment is engaged in the research and development and production of lenses, finished glasses and frames and other products. Lens products can be divided into two categories: daily general lenses and functional lenses. The Company's core product is optical resin lenses, and the lens products are mainly under its own brand Mingyue. The Company conducts its business in the domestic and foreign markets.
Huhu Health Technology Co., Ltd. announced that it expects to receive CLP 12 million in funding from Mingyue Optical Lens Co.,Ltd., Shanghai Mingyue Industrial Co., Ltd. and another investor.