Beijing Eastern Chieftain Technology Co., Ltd. announced that it expects to receive CNY 10 million in funding from Beijing Chieftain Control Engineering Technology Co., Ltd.
October 26, 2017
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Beijing Eastern Chieftain Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 10,000,000 on October 26, 2017. The transaction will involve participation from existing investor Beijing Chieftain Control Engineering Technology Co., Ltd. (SZSE:300430). Post the closing of the transaction, the registered capital of the company will increase from CNY 6,000,000 to CNY 16,000,000 and the investor will retain its 100% stake in the company. The transaction has been approved by the investor at its 3rd directorate's 5th meeting and is not subject to approval from its shareholders. The company reported total assets of CNY 24,024,336.24, total liabilities of CNY 16,626,210.87, net assets of CNY 7,398,125.37, revenue of CNY 17,795,064.69, total profit of CNY 346,060.26, and net profit of CNY 830,500.14 for the year ended December 31, 2016.
Beijing Chieftain Control Engineering Technology Co., Ltd. is a China-based company primarily engaged in the provision of medical and biological industrial automation control system integrated solutions. The Company focuses on automation control applications in the production process of pharmaceutical and biotechnology products, and provides automation control system products and integrated solutions to large and medium sized pharmaceutical, biotechnology companies, based on independent research and development of core technologies and independent produced key equipment and components. Its main products include four series: Fermentation and Synthesis, Purification, Product Preparation, as well as Auxiliary Process.
Beijing Eastern Chieftain Technology Co., Ltd. announced that it expects to receive CNY 10 million in funding from Beijing Chieftain Control Engineering Technology Co., Ltd.