On May 19, 2021, Sinoma Science & Technology Co., Ltd. (Sinoma) announced that it plans to increase the capital of China National Building Materials (Shanghai) Aviation Technology Co., Ltd. (CNBMA) in accordance with the equity ratio with CNBM Joint Investment Co., Ltd (CNBM Joint Venture) and China Composite Materials Group Co., Ltd. (CCM).
In April 2021, the three parties jointly invested 100 million RMB to establish China Building Materials (Shanghai) Aviation Technology Co., Ltd. (CNBMA), with 60% of CNBM Joint Venture, 25% of the shares held by Sinoma, and 15% of the shares held by CCM.
The total amount of the capital increase is 950 million RMB. Among them, CNBM Joint Venture increased capital by 570 million RMB, Sinoma increased capital by 2375 million RMB, and CCM increased capital by 142.5 million RMB. After the completion of the capital increase, the shareholding ratio of the three parties remains unchanged.
According to the announcement, the capital increase is conducive to solving the aviation capital demand of CNBMA, ensuring the smooth implementation of subsequent projects, accelerating the landing of CNBMA’s civil aviation composite industry, and laying a solid foundation for the subsequent healthy development of CNBMA’s aviation composite industry.
Edited and translated: minds:connected