Foshan Ruixin Logistics Management Co., Ltd. announced that it expects to receive CNY 160 million in funding from Fujian Dongbai Co.,Ltd.
May 28, 2020
Share
Foshan Ruixin Logistics Management Co., Ltd. announced a private placement of common shares for gross proceeds of not more than CNY 160 million on May 29, 2020. The transaction will include participation from returning investor Fujian Dongbai (Group) Co.,Ltd. (SHSE:600693). The transaction has been approved by the by the 2nd meeting of the 10th directorate of the Fujian Dongbai (Group) Co.,Ltd. (SHSE:600693). The transaction does not need shareholder's approval.
Fujian Dongbai Group Co Ltd is a China-based company principally engaged in commodity retailing, as well as the development and sales of real estates. The Company distributes household electrical appliances, cosmetics, cigarettes, wines, general merchandise and others through its regular chain department stores. In addition, the Company is also engaged in property leasing, property management, supply chain trading, as well as the provision of hotel, catering and advertising information services. The Company principally conducts its businesses within domestic market.
FUJIAN DONGBAI (GROUP) CO.,LTD. 
