Hangzhou Huazheng New Materials Co., Ltd announced that it expects to receive CNY 460 million in funding from Zhejiang Huazheng New Material Co., Ltd.
June 04, 2020
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Hangzhou Huazheng New Materials Co., Ltd announced a private placement of CNY 460 million in equity round of funding from existing investor Zhejiang Huazheng New Material Co., Ltd. (SHSE:603186) on June 5, 2020. Post completion of transaction, the registered capital of the company will increase from CNY 166 million to CNY 626 million, and will remain a wholly-owned subsidiary of the investor. The transaction has been reviewed and approved by the third meeting of the fourth directorate and the third meeting of the fourth board of supervisors.
Zhejiang Wazam New Materials Co Ltd is a China-based company mainly engaged in the design, research and development (R&D), production and sales of copper clad laminate materials. The Company also produces functional composite materials, composite materials for transportation and logistics, and aluminum-plastic composite materials for lithium battery soft packs. The Company's products are widely used in communication information exchange systems, cloud computing storage systems, autonomous driving signal acquisition systems, Internet of Things (IoT) radio frequency systems, medical equipment, rail transit, lithium batteries, green logistics and other major fields. The Company sells products in domestic and foreign markets.
ZHEJIANG WAZAM NEW MATERIALS CO.,LTD. 
