Anhui Genuine Guangyu Technology Co., Ltd. announced that it expects to receive CNY 30 million in funding from Anhui Genuine New Materials Co.,Ltd., Kunming Xuguang Technology Co., Ltd.
Anhui Genuine Guangyu Technology Co., Ltd. announced that the company will receive CNY 30,000,000 in an equity round of funding on December 14, 2020. The transaction will include participation from returning investors Anhui Genuine New Materials Co.,Ltd. (SHSE:603429) for CNY 21,000,000 and Kunming Xuguang Technology Co., Ltd. for CNY 9,000,000 to retain their stake. Post-closing, the registered capital will increase from CNY 20,000,000 to CNY 50,000,000. The transaction doesn’t need approval from company’s directorate and shareholders.