Ningbo Xingyuan Meter Technology Co., Ltd announced that it expects to receive CNY 50 million in funding from Ningbo Water Meter Co., LTD.
January 14, 2021
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Ningbo Xingyuan Meter Technology Co., Ltd announced that it will receive CNY 50 million in an equity round of funding on January 15, 2021. The transaction will include participation from returning investor Ningbo Water Meter (Group) Co., LTD. (SHSE:603700) and will retain its 100% stake in the company. Post the closing of the transaction, the registered capital of the company will increase from CNY 12 million to CNY 62 million. The transaction has been approved in investor's fourteenth meeting of the seventh board of directors and the twelfth meeting of the seventh board of supervisors.
Ningbo Water Meter Group Co Ltd, formerly Ningbo Water Meter Co Ltd, is a China-based company mainly engaged in research, development and manufacturing of integrated water metering products and water industry Internet of Things technology applications. The hardware terminal manufacturing segment is engaged in the research, development, production, manufacturing and sales of water metering and related pipe network equipment and sensors. The smart water application cloud platform segment is engaged in the establishment of a unified system application platform. The engineering service solution segment provides engineering solutions such as pipeline detection and trenchless repair. The Company conducts its business in domestic and foreign markets.
NINGBO WATER METER (GROUP) CO.,LTD. 
