Beijing Aerospace Huayu Technology Co., Ltd. announced that it expects to receive CNY 28 million in funding from Shanghai Hugong Electric Group Co.,Ltd.
June 10, 2019
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Beijing Aerospace Huayu Technology Co., Ltd. announced that it will receive CNY 28 million in a round of funding from returning investor Shanghai Hugong Electric Group Co.,Ltd. (SHSE:603131) on June 11, 2019. As a part of the transaction, CNY 27.9936 million will go to registered capital and CNY 0.0064 will go to capital reserve. After the capital increase, the registered capital of the company will increased to CNY 40.2 million. Post the closing, the investor will retain its 100% stake in the transaction. The transaction has been approved at the thirteenth meeting of the third directorate and the tenth meeting of the third board of supervisors.
SHANGHAI HUGONG ELECTRIC GROUP CO., LTD. is a China-based company principally engaged in the research, development, manufacture and sales of welding and cutting equipment. The Company's main products include gas shielded welding machines, argon arc welding machines, manual arc welding machines, submerged arc welding machines and other arc welding equipment products. Its products are widely used in automobile manufacturing, marine engineering, electric power stations, aerospace, military, petrochemical equipment, pipeline construction, rail transportation, construction engineering, machinery manufacturing, bridge construction, pressure vessels, shipbuilding, general equipment manufacturing, new energy, Power battery, 3C industry and many other industries. The Company distributes its products in domestic market and to overseas markets.
Beijing Aerospace Huayu Technology Co., Ltd. announced that it expects to receive CNY 28 million in funding from Shanghai Hugong Electric Group Co.,Ltd.
SHANGHAI HUGONG ELECTRIC GROUP CO.,LTD. 
