It is disclosed that Uni-Power Guaranty (UPG) has increased its capital and shares, 30% of which were held by foreign investors. After the share increase, its registered capital was increased to RMB280M from RMB200M, becoming the largest credit guarantor in Zhejiang province.

The two investors of UPG include SVB Financial Group (SVB) and All Noble Investments Limited (NEA).

Meidu Holdings, a shareholder of UPG, announced that UPG was restructured as a Sino-foreign joint venture company. The increased registered capital RMB84, 981, 402.30 was wholly subscribed by NEA and SVB in premium cash. The consideration that was paid by the two investors and exceeded the registered capital will be included as the capital reserve of UPG. The above deal needs approval from relevant authority.