Kunshan Wcon Electronics Co., Ltd. announced that it expects to receive CNY 100 million in funding from WCON Electronics Co., Ltd.
April 09, 2023
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Kunshan Wcon Electronics Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 100 million on April 10, 2023. The transaction will include participation from returning investor WCON Electronics (Guangdong) Co., Ltd. The transaction has been approved in the 2nd session of the company's 2nd directorate and the 2nd session of the company's 2nd supervisory board. The registered capital of the company will increase from CNY 10 million to CNY 110 million.
On May 22, 2023, the company announced that it has completed the industrial and commercial registration procedures required for the transaction and obtained the Business Licence issued by the Kunshan Municipal Administrative Approval Bureau.
WCON Electronics Guangdong Co Ltd is a China-based company mainly engaged in the manufacture of precision connector products. The Company operates through four segments. The Industrial Control Connector segment is mainly engaged in the manufacture of industrial control board-to-board connectors and industrial control wire-to-board connectors, which are used in servo motors, programmable controllers, industrial computers, inverter controllers, data storage devices, instrumentation, and others. The Automotive Connector segment is mainly engaged in the production of automotive connectors, which are used in batteries for new energy vehicles. The New Energy Connector segment is mainly engaged in the production of new energy connectors for use in solar and wind energy inverters. The Other segment is mainly engaged in the production of other electronic components. The Company distributes its products in the domestic market and overseas markets.
WCON ELECTRONICS (GUANGDONG) CO., LTD. 
