Jiuding Capital Invests 60 Million Yuan in Suncoo
ChinaVenture Beijing Time March 14th: Recently, Suncoo affiliated to Foshan Baitian Building Materials Industry Co., Ltd. was invested 60 million yuan by Jiuding Capital.
It was not first time for Jiuding Capital to invest in the sanitary industry. Before then, Jiuding Capital has invested in the listed household sauna equipment manufacturer - Sanleking.
According to CVSource, the data product of ChinaVenture, on January 27th, 2010, Anhui Sanleking Co., Ltd. increased its registered capital up to 61.25 million yuan from 56.25 million yuan. Jiuding Capital invested 30,000,000 yuan to purchase 5,000,000 shares, with the shareholding ratio of 8.16%.
On July 29th, 2011, Anhui Sanleking Co., Ltd. was listed in the second-board market of Shenzhen Stock Exchange, with the issue price of 16.00 yuan. Beijing Shangqi Jiuding Capital Center affiliated to Kunwu Jiuding Capital held 5,000,000 shares, accounting for 6.12% of the post-issuance general capital. Moreover, Jiuding Capital also invested iDear Hanyu and Monarch.
According to the data, Suncoo, established in 2001, is engaged in R&D, production and sale of complete sanitary products, such as top-grade bathroom cabinet, toilet, faucet, shower room and bathtub. Suncoo, with 700 stores, is rapidly-developed enterprise in the sanitary industry.
Currently, China has become the world’s largest production and sale nation of the sanitary ware, with the production and output value of the sanitary ware accounting for 30% of the world’s totals.
Domestic sanitary ware market scale reached 75 billion yuan in 2010. With the increase of urbanization rate and the enhancement of the consumption ability of household building materials in second-tier, third-tier and fourth-tier cities, the sanitary ware industry has relatively-big growth space in the future.