Hangzhou Xinhui Fuyun Information Technology Co., Ltd. announced that it expects to receive CNY 9 million in funding from Zhejiang Busen Garments Co., Ltd. and another investor
April 05, 2021
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Hangzhou Xinhui Fuyun Information Technology Co., Ltd. announced that it will receive CNY 9,000,000 in an equity round of funding on April 6, 2021. The transaction will include participation from returning investors, Zhejiang Busen Garments Co., Ltd. (SZSE:002569) for CNY 4,590,000 and Wang Yazhu for CNY 4,410,000 to retain their stakes of 51% and 49% respectively. Post the closing, the registered capital of the company will increase from CNY 1,000,000 to CNY 10,000,000. The transaction has been approved at the 3rd meeting of the Zhejiang Busen Garments Co., Ltd. (SZSE:002569) 6th directorate and is not subject to shareholder's approval.
ZHEJIANG BUSEN GARMENTS CO., LTD. is a China-based company principally engaged in the design, production and sales of menswear. The Company's main products include shirts, suits, pants, jackets and sweaters. The Company owns the brand name of Busen. The Company distributes its products in domestic market and to overseas markets.
Hangzhou Xinhui Fuyun Information Technology Co., Ltd. announced that it expects to receive CNY 9 million in funding from Zhejiang Busen Garments Co., Ltd. and another investor