Daao Automobile Products Co., Ltd. announced that it expects to receive CNY 112.083996 million in funding from Rayhoo Motor Dies Co.,Ltd.
March 12, 2023
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Daao (Wuhu) Automobile Products Co., Ltd. announced that it will receive CNY 112,083,996 in a round of funding from new investor Rayhoo Motor Dies Co.,Ltd. on March 13, 2023. The company will issue common stock in the transaction. The registered capital of the company will increase from CNY 103,462,150 to CNY 215,546,146. Rayhoo Motor Dies Co.,Ltd. will hold 40% stake in the company. This has been approved in the Company held the 12th Meeting of the 3rd Directorate and the 11th Meeting of the 3rd Supervisory Board.
On March 29, 2023, the company held the 2nd Extraordinary Shareholders Meeting of 2023, and approved the capital increase.
Rayhoo Motor Dies Co Ltd is a China-based company mainly engaged in the development, design, manufacture and sales of automobile stamping dies, inspection tools and welding automated production lines. The Company's main products are stamping dies, including cover die and high-strength plate die, inspection tools, welding and assembly automated production lines. Its products are mainly used in the automobile manufacturing industry. The Company operates its businesses within the domestic market and to overseas markets.
RAYHOO MOTOR DIES CO.,LTD. 
