Shihezi Joinworld New Materials Co., Ltd announced that it expects to receive CNY 125 million in funding from Xinjiang Joinworld Co.,Ltd.
November 15, 2020
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Shihezi Joinworld New Materials Co., Ltd announced a private placement transaction for gross proceeds of CNY 125,000,000 on November 16, 2020. The company will issue common shares in the transaction. The transaction will include participation from returning investor Xinjiang Joinworld Co.,Ltd. (SHSE:600888). Post the closing of the transaction, the investor will continue to hold 100% stake in the company and the registered capital of the company will increase from CNY 25,000,000 to CNY 150,000,000. The transaction was approved by the board of directors of the investor at 6th session of the 8th directorate for 2020.
Xinjiang Joinworld Co Ltd is a China-based company principally engaged in the research and development, production and sales of new electronic materials and aluminum and alloy products. The Company's main products include high-purity aluminum, electronic aluminum foil, electrode foil, aluminum products and alloy products. The Company's products are mainly used in electronic equipment, household appliances, automobile manufacturing, wire and cable, transportation, aerospace and other fields. The Company distributes its products both in the domestic market and to overseas markets.
XINJIANG JOINWORLD CO., LTD. 
