Shanghai Baicheng Electrical Equipment Co., Ltd. announced that it has received CNY 50 million in funding from Shandong Weida Machinery Co., Ltd.
On August 28, 2014, Shanghai Baipin Electrical Appliance Co., Ltd. closed the transaction. The company completed the registration modification procedures, obtained the business license issued by the bureau of industry and commerce of Shanghai Jiading District. The registered capital of the company has increased to CNY 70 million.