Shanghai Hongchi Asset Management Co., Ltd. announced that it expects to receive CNY 31 million in funding from Shanghai Shunho New Materials Technology Co.,Ltd.
June 21, 2019
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Shanghai Hongchi Asset Management Co., Ltd. announced that it will receive CNY 31,000,000 in an equity round of funding on June 21, 2019. The transaction will include participation from new investor Shanghai Shunho New Materials Technology Co.,Ltd. (SZSE:002565) and acquire 96.88% stake in the company. Post the closing, the registered capital of the company will increase from CNY 1,000,000 to CNY 32,000,000. The transaction was approved by board of directors at 4th directorate’s 16th meeting and does need approval from shareholders of Shanghai Shunho New Materials Technology Co.,Ltd. (SZSE:002565).
Shanghai Shunho New Materials Technology Co.,Ltd., formerly Shanghai Luxin Packing Materials Science & Technology Co., Ltd., is a China-based company principally engaged in the research, development, manufacture, processing and distribution of packaging products. The Company's main products include vacuum metalized papers, polypropylene fibers for cigarettes, as well as white cardboards and laminated papers. The Company is also involved in the provision of printing materials, hologram papers as well as optical anti-counterfeiting films, among others. The Company's products are applied in the packing of tobaccos, food, beverages, sports goods, liquors and others. In addition, the Company also engages in the research, manufacture and distribution of natural biological fertilizer and organic feed, as well as the development of network technology, among others. The Company distributes its products within domestic market and to overseas markets.
Shanghai Hongchi Asset Management Co., Ltd. announced that it expects to receive CNY 31 million in funding from Shanghai Shunho New Materials Technology Co.,Ltd.
SHANGHAI SHUNHO NEW MATERIALS TECHNOLOGY CO.,LTD. 
