Hangzhou Juheshun New Material Co LtdCompany plans private placement to raise up to 300 million yuan from entities controlled by actual controller, increasing their stake and providing working capital.

Juheshun announced that the company plans to issue shares to Yongchang Holdings and Hainan Yongchang, entities fully controlled by actual controller Fu Changbao, raising no more than 300 million yuan to supplement working capital. As of the announcement date, the company has no controlling shareholder, and actual controller Fu Changbao together with Yongchang Holdings and Hainan Yongchang controls a combined 31.98% stake in the company. After this issuance, the company will still have no controlling shareholder, and the combined shareholding of actual controller Fu Changbao and his concert parties will rise to 38.16%.
Hangzhou Juheshun New Material Co LtdCompany plans private placement to raise up to 300 million yuan from entities controlled by actual controller, increasing their stake and providing working capital.
Yongchang Holdings, fully owned by actual controller, is a subscriber in the private placement, increasing its stake in Juheshun.
Hainan Yongchang, fully owned by actual controller, is a subscriber in the private placement, increasing its stake in Juheshun.