XD Group Finance Co., Ltd. announced that it expects to receive CNY 3.2460012 billion in funding from China Electric Equipment Group Corporation, Pinggao Group Co., Ltd., Shandong Electrical Engineering & Equipment Group Co., Ltd., XJ Electric Co., Ltd., Henan Pinggao Electric Co.,Ltd.
July 05, 2022
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XD Group Finance Co., Ltd. announced a private placement of common shares on July 5, 2022. The transaction will involve participation from new investors, China Electric Equipment Group Corporation, XJ Group Corporation, Pinggao Group Co., Ltd. and Shandong Electrical Engineering & Eqipment Group CO.,Ltd. Post-closing of the transaction, China Electric Equipment Group Corporation will become controlling shareholder of the company. The transaction was approved by the board of directors of China XD Electric Co., Ltd at its sixth meeting of the fourth board of directors
XJ Electric Co., Ltd. specializes in the design, manufacturing and marketing of equipments and systems of energy transmission, automation, protection and control. The products include electricity generators, transformers, energy distribution systems, control devices, etc. Besides, the group proposes subcontracting manufacturing of electronic products services.
XD Group Finance Co., Ltd. announced that it expects to receive CNY 3.2460012 billion in funding from China Electric Equipment Group Corporation, Pinggao Group Co., Ltd., Shandong Electrical Engineering & Equipment Group Co., Ltd., XJ Electric Co., Ltd., Henan Pinggao Electric Co.,Ltd.