Suzhou Xingheyuan Composite Material Co., Ltd announced that it expects to receive CNY 300 million in funding from Suzhou China Create Special Material Co.,Ltd., Hefei Hesheng Special Material Co., Ltd.
July 26, 2018
Share
Suzhou Xingheyuan Composite Material Co., Ltd announced that it will raise CNY 300,000,000 in the round of funding on July 27, 2018. The transaction will include participation from Suzhou China Create Special Material Co.,Ltd. (SZSE:002290), for CNY 297,000,000, and Hefei Hesheng Special Material Co., Ltd., for CNY 3,000,000. Post-closing of the transaction, Suzhou China Create Special Material Co.,Ltd. (SZSE:002290) will hold 99% stake and Hefei Hesheng Special Material Co., Ltd. will hold 1% stake in the company. The transaction was approved by the 27th session of 4th directorate of Suzhou China Create Special Material Co.,Ltd. (SZSE:002290). The registered capital of the company will increase from CNY 100,000,000 to CNY 400,000,000. The company reported total assets of CNY 946,135,740.25, total liabilities of CNY 839,142,352.25, net assets of CNY 106,993,387.92, revenue of CNY 646,456,513.01, and net profit of CNY 12,789,798.46 for the year ended December 31, 2017.
Suzhou Hesheng Special Material Co Ltd, formerly Suzhou China Create Special Material Co Ltd, is a China-based company principally engaged in the research, development, manufacture and sale of composite materials for surface components of home appliances. The Companyâs products portfolio consists of pre-coated metal (PCM) sheets, which are used as skin plate materials and side and back plate materials for home appliances, including refrigerators and washing machines, and vinyl coated metal (VCM) sheets, which are used as skin plate materials for home appliances, including refrigerators, washing machines and electrical heating machines. Through its subsidiaries, the Company is also engaged in the research, development, manufacture and sale of coating composite materials. The Company distributes its products within domestic market and to overseas markets.
Suzhou Xingheyuan Composite Material Co., Ltd announced that it expects to receive CNY 300 million in funding from Suzhou China Create Special Material Co.,Ltd., Hefei Hesheng Special Material Co., Ltd.