Nanjing Xiangrui Powder Engineering Co., Ltd. announced that it expects to receive CNY 30 million in funding from Shandong Zhangqiu Blower Co., Ltd and other investors
April 25, 2021
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Nanjing Xiangrui Powder Engineering Co., Ltd. announced that it will raise CNY 30 million in a round of funding on April 26, 2021. The transaction included participation from new investor Shandong Zhangqiu Blower Co., Ltd (SZSE:002598). The company entered in to capital agreement with the investor for 40% stake in the company after the completion transaction. The company will use CNY 3.3333 million for new registered capital, CNY 26.6667 million for capital reserve. The transaction also include foreign investment. The transaction was approved by the board of directors tenth meeting of the company's fourth board of directors, does not need approval of shareholders.
Shandong Zhangqiu Blower Co., LTD is a China-based company principally engaged in the research, development, design, manufacture and sale of blowers, slurry pumps, pneumatic conveying products, mining machinery and electrical start-up cabinets. The Company's main products include Roots blowers, multistage centrifugal blowers and ventilators. The Company's products are used in electric power, petroleum, chemical, fertilizer, steel, smelting, oxygen production, cement, food, textile, papermaking, dusting, aquaculture, sewage treatment, pneumatic conveying and air separation industries. The Company distributes its products in domestic market.
Nanjing Xiangrui Powder Engineering Co., Ltd. announced that it expects to receive CNY 30 million in funding from Shandong Zhangqiu Blower Co., Ltd and other investors