Jiangsu Xunda Electrical Materials Co., Ltd. announced that it expects to receive CNY 100 million in funding from Shanghai Morn Electric Equipment Co., Ltd., Morn Holding Group Co., Ltd.
May 06, 2021
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Jiangsu Xunda Electrical Materials Co., Ltd. announced a private placement of CNY 100,000,000 on May 7, 2021. The company will issue common shares in the transaction. The transaction will include participation from returning investor Shanghai Morn Electric Equipment Co., Ltd.(SZSE:002451) for CNY 2,000,000; new investor Morn Holding Group Co., Ltd. for CNY 98,000,000 for 49% stake. Post completion of the transaction, registered capital of the company will increase from CNY 100,000,000 to CNY 200,000,000. The investors and Shanghai Morn Electric Equipment Co., Ltd. (SZSE:002451), parent of the company signed a Capital Increase Agreement, as part of the transaction.
Shanghai Morn Electric Equipment Co., Ltd. is a China-based company principally involved in the research, development, manufacture and sales of electric wires and cables. The Company operates through two main segments. The Electric Cables segment is mainly engaged in the research, development, manufacture and sales of power cables, wires and cables for electrical equipment, bare wire and bare conductors, communication cables and optical cables and others. The Quasi Finance segment is mainly engaged in the financial leasing activities and commercial factoring activities.
Jiangsu Xunda Electrical Materials Co., Ltd. announced that it expects to receive CNY 100 million in funding from Shanghai Morn Electric Equipment Co., Ltd., Morn Holding Group Co., Ltd.
SHANGHAI MORN ELECTRIC EQUIPMENT CO., LTD. 
