Kunming Wingtech Communication Co., Ltd announced that it expects to receive CNY 92 million in funding from Wingtech Technology Co.,Ltd
May 06, 2019
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Kunming Wingtech Communication Co., Ltd announced that it will receive CNY 92,000,000 in funding on May 6, 2019. The transaction will include participation from existing investor Wingtech Technology Co.,Ltd (SHSE:600745). The registered capital of the company will increase from CNY 8,000,000 to CNY 100,000,000. Post closing, the investor will retain 100% stake in the company. The transaction has been approved at the 4th meeting of the 10th directorate of the investor and is not subject to shareholder approval.
WINGTECH TECHNOLOGY CO., LTD, formerly JOIN-IN (HOLDING) CO.,LTD., is a China-based company principally engaged in the research, development and manufacture of mobile terminals and smart hardware products. The Company operates three business segments. The Electronic Equipment Manufacturing Business segment is mainly engaged in the research and manufacturing of mobile internet equipment products mainly based on smart phones. The Real Estate and Hotel Supporting Business segment is principally engaged in real estate development and operation, property management, hotel investment and hotel management. The Investment Management Business segment is principally engaged in investment management business. The Company's main products include mobile communication products and mobile communication equipment and commercial housing. The Company operates its businesses within the domestic market and to overseas markets.