Shanxi Huayang Biodegradable New Material Co., Ltd. announced that it expects to receive CNY 154 million in funding from Shanxi Huayang New Material Co.,Ltd.
October 26, 2021
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Shanxi Huayang Biodegradable New Material Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 154 million on October 26, 2021. The transaction will include participation from returning investor Shanxi Huayang New Material Co.,Ltd. The transaction has been approved at the fifteenth meeting of the seventh board of directors of the investor. The transaction shall be submitted to the investor's shareholders meeting for deliberation. As a result, company's registered capital will increase from CNY 1 million to CNY 155 million.
Shanxi Huayang New Material Co Ltd, formerly Taiyuan Chemical Industry Co Ltd, is a China-based company principally engaged in the business of recycling and processing of precious metals. The Company operates two main businesses. The precious metal recovery and processing business includes the production and sales of platinum group metal catalytic nets and the recovery and disposal of waste catalysts containing precious metals. The biodegradable plastic business includes the production and sales of Poly(butyleneadipate-co-terephthalate) (PBAT) and related downstream biodegradable plastic products. The Company's products include platinum alloy mesh, recycled and refined palladium and biodegradable materials and articles. The Company mainly conducts business in the domestic market.
Shanxi Huayang Biodegradable New Material Co., Ltd. announced that it expects to receive CNY 154 million in funding from Shanxi Huayang New Material Co.,Ltd.