Ningbo Ronggang real estate Co., Ltd. announced that it expects to receive funding from Rongan Property Co.,Ltd., Ningbo Kaisheng Investment Co., Ltd.
December 13, 2020
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Ningbo Ronggang real estate Co., Ltd. announced that it will receive in an equity round of funding on December 14, 2020. The transaction will include participation from returning investors Rongan Property Co.,Ltd. (SZSE:000517) for CNY 600,000,000 and Ningbo Kaisheng Investment Co., Ltd. Post -closing, Rongan Property Co.,Ltd. (SZSE:000517) will retain a 60% and Ningbo Kaisheng Investment Co., Ltd. will retain a 40%.Post-closing, the registered capital of the company will be CNY 1,400,000,000. The transaction has been approved by board of directors of Rongan Property Co.,Ltd. (SZSE:000517) in its 9th interim meeting of the 11th board of directors and not need to be submitted to the general meeting of shareholders.
RONGAN PROPERTY CO.,LTD. is a China-based company principally engaged in the development and distribution of real estates. The Company is mainly involved in the development of real estates, property leasing, property management, as well as construction agency and building construction. The Company mainly develops commercial residential properties. Its property leasing business consists of the rental of two commercial office buildings. The Company operates its business mainly in domestic market.
RONGAN PROPERTY CO.,LTD. 
