Zhongding Invested RMB 1.2 Billion Yuan in Damping Products and Fluid Pipelines

On March 18, Anhui Zhongding Sealing Parts Co., Ltd. announced that it planned to use the raised funds of RMB 800 Million Yuan to increase the capital in its wholly-owned subsidiary Anhui Zhongding Damping Rubber Technology Co., Ltd. After this capital increase, the registered capital of Zhongding Damping will increase from RMB 764 Million Yuan to RMB 1.564 Billion Yuan.

On March 5, Zhongding publicly issued RMB 1.2 Billion Yuan of convertible bonds to raise funds mainly for the research and development of rubber damping products, the relocation and expansion of the production base (phase I), and the temperature control fluid piping system project for power battery of new energy vehicles. As the implementation subject of “the research and development of rubber damping products and the relocation and expansion of the production base (phase I)”, Zhongding Damping acquired the investment of RMB 800 Million Yuan.

Established in 2005, Zhongding Damping head-quartered in Ningguo, Anhui Province, which is mainly engaged in the research, development, manufacturing and sales of damping rubber metal products used for chassises and power transmission systems of the automobile and railway industry, with the annual capacity of 40 million pieces.

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