Hangzhou Wellsun IoT Technology Co., Ltd. announced that it expects to receive CNY 24 million in funding from Zhejiang Wellsun Intelligent Technology Co.,Ltd., Ningbo Tongxin Enterprise Management Partnership Enterprise (Limited Partnership), Ningbo Wanshui Enterprise Management Partnership Enterprise (Limited Partnership)
February 12, 2023
Share
Hangzhou Wellsun IoT Technology Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 24,000,000 on February 13, 2023. The transaction will include participation from new investors, Ningbo Tongxin Enterprise Management Partnership Enterprise (Limited Partnership) will invest CNY 3,000,000, Ningbo Wanshui Enterprise Management Partnership Enterprise (Limited Partnership) will invest CNY 17,100,000 and returning investor, Zhejiang Wellsun Intelligent Technology Co.,Ltd will invest CNY 3,900,000. The transaction has been approved at the 10th meeting of the company's 3rd directorate and the 10th meeting of the 3rd supervisory board. The transaction is subject to the shareholders' approval. The company is expected to close the transaction before March 31, 2023.
On March 16, 2023, the company announced that it has completed the industrial and commercial change registration procedures, and obtained the Business License from Hangzhou Xihu District Market Supervision Administration.
Zhejiang Wellsun Intelligent Technology Co Ltd is a company mainly engaged in research and development, production and sales of electric power metering instruments. The Company's primary products are smart meters which are comprised of single-phase smart meters and three-phase smart meters. The Company is also involved in providing electricity information collection systems, including concentrator, collector and special transformer collection terminal. The Company's other products include metering boxes.
ZHEJIANG WELLSUN INTELLIGENT TECHNOLOGY CO.,LTD. 
