Fujian Furongyuan New Material High-end Manufacturing Co., Ltd. announced that it expects to receive CNY 440 million in funding from Sichuan Furong Technology Co., Ltd.
July 26, 2023
Share
Fujian Furongyuan New Material High-end Manufacturing Co., Ltd. announced a private placement of common shares through capital increase for the gross proceeds of CNY 440 million on July 27, 2023. The transaction will include participation from existing investor Sichuan Furong Technology Co., Ltd. The transaction has been approved in the 6th meeting of the 3rd board of directors and the 6th meeting of the 3rd board of supervisors of the company and it does not need to submit to the general meeting of shareholders for consideration. Post the transaction, the company's registered capital will increase to CNY 640 million.
Sichuan Furong Technology Co., Ltd. is a China-based company mainly engaged in the research and development, production and sales of aluminum structural parts for consumer electronics. The Company's main products mainly include smart phone casing and mid-frame materials, tablet casing materials and notebook casing materials. These products are mainly used in Samsung, Huawei, OPPO, VIVO and other brands of smart phones, as well as Apple and other brands of tablets and laptops. The Company is also engaged in the production of other industrial materials and sales of scrap aluminum business. The Company conducts its businesses within domestic market and overseas markets.
Fujian Furongyuan New Material High-end Manufacturing Co., Ltd. announced that it expects to receive CNY 440 million in funding from Sichuan Furong Technology Co., Ltd.