Dongyang Huatong Animal Husbandry Co., Ltd. announced that it expects to receive CNY 50 million in funding from Zhejiang Huatong Meat Products Co., Ltd. and other investors
Dongyang Huatong Animal Husbandry Co., Ltd. announced that it has entered into capital increase and share purchase agreement to issue 50,000,000 shares at a price of CNY 1 per share for gross proceeds of CNY 50,000,000 on January 30, 2021. The transaction will include participation from Zhejiang Huatong Meat Products Co., Ltd. (SZSE:002840) for CNY 28,000,000, Yao Yajun for CNY 12,000,000 for 12% stake, Zheng Hui for CNY 5,000,000 for 5% stake, and Hu Mengru for CNY 5,000,000 for 5% stake. Post to the transaction, the registered capital of the company will increase from CNY 50,000,000 to CNY 100,000,000 and the stake held by Zhejiang Huatong Meat Products Co., Ltd. (SZSE:002840) will decrease from 100% to 78%. The transaction has been approved in the fifth meeting of the fourth board of directors of the company. The industrial and commercial equity registration change will be made within 5 working days after the agreement becomes effective.