Jiangdong Electronic Materials Co., Ltd. announced that it expects to receive CNY 200 million in funding from Jiangsu Zhongtian Technology Co., Ltd.
January 10, 2019
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Jiangdong Electronic Materials Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 200 million with Jiangsu Zhongtian Technology Co., Ltd. (SHSE:600522) on January 10, 2019. The transaction was approved by the board of directors of the investor at the 22nd meeting of the 6th directorate and does not need the approval by the shareholders. Post the closing, the registered capital of the company will increase to CNY 600 million. The company reported total assets of CNY 654,186,000, total liabilities of CNY 266,275,000, and net assets of CNY 387,110,000 for the year ended December 31, 2018.
JIANGSU ZHONGTIAN TECHNOLOGY CO., LTD. is a China-based company, principally engaged in the manufacture and sales of communication products. The Company's products include general optical fiber cables, power optical fiber cables, submarine optical fiber cables, optical fiber products, radio frequency cables, aluminum alloy wires, aluminum clad steel wires, soft optical fiber cables, optical fiber ribbon cables, optical cable components, as well as detective optical fiber cables, among others. The Company is also engaged in trading and new energy businesses. The Company distributes its products within domestic market and to overseas markets.