Jiangyin Naxin Heavy Industry Co., Ltd. announced that it has received CNY 33.08 million in funding from Jiangsu Huahong Technology Stock Co., Ltd.
January 08, 2015 at 10:30 am IST
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Jiangyin Naxin Heavy Industry Co., Ltd. announced that it will receive CNY 33,084,400 in an equity round of funding on January 8, 2015. The transaction will include participation from new investor Jiangsu Huahong Technology Stock Co., Ltd. which will acquire 60% stake in the company. The transaction has been approved 4th meeting of the 4th board of directors of the investor and in 1st extraordinary shareholders meeting of 2015 of the investor.
Jiangsu Huahong Technology Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of renewable resources equipment. The Company operates its businesses through two segments. The Renewable Resources segment mainly provides metal packaging equipment, metal shearing equipment, scrap crushing production lines and other metal renewable resources processing equipment, while the Renewable Resources segment is also engaged in the processing and recycling of renewable resources. The Elevator Components segment mainly provides elevator signal systems, door systems and other elevator components. The Company distributes its products in the domestic market and to overseas markets.
JIANGSU HUAHONG TECHNOLOGY CO., LTD. 
