Chongqing Zongshen Aviation Engine Manufacturing Co., Ltd. announced that it expects to receive CNY 33.6 million in funding from Chongqing Zongshen Power Machinery Co.,Ltd, Chongqing Zongchen Enterprise Management Partnership Enterprise (Limited Partnership)
May 28, 2021
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Chongqing Zongshen Aviation Engine Manufacturing Co., Ltd. announced that it will receive CNY 33,600,000 in an equity round of funding on May 28, 2021. The transaction will include participation form new investor Chongqing Zongchen Enterprise Management Partnership Enterprise (Limited Partnership) for 4.7029% stake and returning investor Chongqing Zongshen Power Machinery Co.,Ltd (SZSE:001696). Out of the total proceeds, CNY 20,000,000 will be going to registered capital and registered capital will increase from CNY 405,265,421 to CNY 425,265,421. Post to the closing, Chongqing Zongshen Power Machinery Co.,Ltd (SZSE:001696) will decrease its stake from 72.2983% to 68.8981%. The transaction has been approved by the board of directors of the Chongqing Zongshen Power Machinery Co.,Ltd (SZSE:001696) at its 16th Meeting of 10th Directorate.
CHONGQING ZONGSHEN POWER MACHINERY CO.,LTD is a China-based company principally engaged in the research and development, manufacture and sale of small thermodynamic machinery. The Companyâs main products include engines and spare parts; general gasoline engines, tillage, lawn mower, pumps, gasoline generator sets and components; motorcycle parts and auto parts. The Company distributes its products in domestic market and to overseas markets.
Chongqing Zongshen Aviation Engine Manufacturing Co., Ltd. announced that it expects to receive CNY 33.6 million in funding from Chongqing Zongshen Power Machinery Co.,Ltd, Chongqing Zongchen Enterprise Management Partnership Enterprise (Limited Partnership)
CHONGQING ZONGSHEN POWER MACHINERY CO.,LTD 
