Shanghai Huicheng Engineering Technical Services Co., Ltd. announced that it expects to receive CNY 14 million in funding from Zhongyeda Electric Co., Ltd., Zhejiang Haining Ruiye Investment Partnership Enterprise (Limited Partnership)
July 28, 2016
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Shanghai Huicheng Engineering Technical Services Co., Ltd. announced that it has signed capital increase agreement to receive CNY 14,000,000 in equity funding on July 28, 2016. The transaction will include participation from new investors Zhongyeda Electric Co., Ltd. and Zhejiang Haining Ruiye Investment Partnership Enterprise (Limited Partnership) for CNY 11,200,000 and CNY 2,800,000 respectively to acquire 8.000108% and 1.999802% stake respectively in the transaction. The investors will acquire 9.999909% stake in the company through the transaction. The company’s registered capital will increase from CNY 20,000,000 to CNY 22,222,200. The transaction has been approved at 29th session of the 3rd directorate of Zhongyeda Electric Co., Ltd.
The company has reported total assets of CNY 1,755,561.65, total liabilities of CNY 1,605,586.73, owner’s equity is CNY 149,974.92, revenue of CNY 1,679,279.20, operating profit of CNY -76,507.51, and net profit of CNY -41,507.51 for the year ended December 31, 2015.
ZHONGYEDA ELECTRIC CO., LTD is a China-based distributor of industrial electrical products. The Company operates its businesses through the wholesale of energy, materials and mechano-electronic equipment, and electric equipment and machinery manufacturing business. The Company's products include low-voltage electrical products, medium voltage electrical products, industrial control products and others. The Company also provides system integration and sets manufacturing. The Company distributes its products within domestic market and to overseas markets.
Shanghai Huicheng Engineering Technical Services Co., Ltd. announced that it expects to receive CNY 14 million in funding from Zhongyeda Electric Co., Ltd., Zhejiang Haining Ruiye Investment Partnership Enterprise (Limited Partnership)