Greencity Acquisition Corporation *

Greencity Acquisition Corporation *

Oct 19, 2020 by Roman Developer

EXTENSION – 4/26/23 – LINK

  • The SPAC approved the extension from April 28, 2023 to October 28, 2023.
    • 405,705 shares were redeemed.
    • $0.033/share per month will be deposited into the trust account.


  • The SPAC signed a non-binding letter of intent with Bopai Construction Technology (Shanghai) Co., Ltd., a company headquartered in China.
    • Bopai has retained its own US legal counsel and PCAOB-qualified independent public accounting firm to conduct the preparation for the potential business combination transaction with the Company.
  • Bopai is a scientific and technological innovation-oriented enterprise dedicated to “Construction Industry 4.0”.
    • Under the wave of industrialization and informatization in the construction industry, the Bopai is committed to the building automation industry.
    • Through the world’s leading 3D architectural printing as the entry point and guarantee, the industrial production method employed by Bopai is used to carry out intelligent and green production of buildings.
    • Popai owns 43 patents and its research and development programs are backed by first-class universities to ensure continuous technology innovation.

EXTENSION – 10/28/22 – LINK

  • Greencity Acquisition Corporation today announced that on October 28, 2022, the Company held an Annual General Meeting of its shareholders at which time the shareholders voted to extend the date by which Greencity has to consummate a business combination from October 28, 2022, to April 28, 2023.
  • The holders of 3,506,907 of the Company’s ordinary shares present and entitled to vote at the Meeting, constituting 100% of ordinary shares present, voted in favor of the Extension.

EXTENSION – 4/19/22 – LINK

  • The SPAC has agreed to extend the time to complete a business transaction from April 28, 2022 to October 28, 2022.
    • At this meeting, 78,050 Shares were redeemed for $10.39/Share
    • There are no contributions to trust for this extension.

EXTENSION – 7/26/21 – LINK

  • The Company’s sponsor, Cynthia Management Corporation, has deposited into the Company’s trust account an aggregate of $133,334, representing $0.033 per public share of the Company
    • The sponsor can extend for a total of 9 times to extend to April 28, 2022.


Executive Officers

Ming Zhang, 33
Chief Executive Officer

Mr. Zhang has been co-managing several growth equity funds in China, including CCIN Capital Management Corp., which focuses on public private partnerships, non-performing assets and pre-IPO investments in China, since July 2018, Manzi Holding Corp., which focuses on venture capital investments in China, since June 2018, Ebula Investment Fund, which focuses on angel round investment and consulting services in China, since December 2017, Blue Stone Capital, which focuses on private equity fund management, since March 2015, and Mingen Capital, which focuses on funds management in China, since March 2013. Mr. Zhang has also served as Managing Director of SBI Financial Holding Group China, an integrated finance services group, since January 2017. From 2007 to 2012, Mr. Zhang founded and operated three start-up internet commerce companies, including Seven Day Ecommerce Co., Ltd., New Dream Technology Co., Ltd. and Weipin Industries Co., Ltd. Mr. Zhang received his MBA degree from Zhejiang University.

Jianmin Yu, 46
Chief Financial Officer

Mr. Yu has been co-managing several growth equity funds in China, including CCIN Capital Management Corp., which focuses on public private partnerships, non-performing assets and pre-IPO investments in China, since July 2018, and Manzi Holding Corp., which focuses on venture capital investments in China, since June 2018. Mr. Yu has served as a member of the board directors of Shanghai Midai Investment Group since June 2019. Since April 2019, Mr. Yu has served as an executive director of Shanghai Midai Automobile Group Ltd. Since April 2019, Mr. Yu has served as an executive Director of Shanghai MYPT Health Consulting Ltd., focused on personal health in China. Mr. Yu served as an independent consultant in the finance and e-commerce industries, from 2013 until June 2018. Mr. Yu served as President of Cargo Services (China) Ltd., a logistics company in China market, from 2002 to 2012 and as President of CMA Logistics (China) Ltd., a container ship owner, from 2012 to 2013. Mr. Yu received his MBA from Catholic University of Leuven in Belgium and Master of Finance from the London School of Economics.


Board of Directors

Jinlong Liu, 30

Mr. Liu has been serving as chairman of Shanghai Midai Investment Group, an investment group in Shanghai, focusing on auto finance, real estate investment and investments relating to logistics, tourism and individual transportation, since August 2016. Mr. Liu has also served as chief executive officer of Shanghai Midai Automobile Corp., a subsidiary of Shanghai Midai Investment Group, dealing with auto sales, rental, finance and repairs, as well as gasoline trade, since June 2015. From 2009 to 2015, Mr. Liu served as the manager of Ye Chiu Resources Ltd., specializing in the manufacturing and exportation of aluminum materials in China. From 2010 to 2012, Mr. Liu was employed by Jianhua Group Ltd., a trade, finance, retail and construction company in China. From 2012 to 2015, Mr. Liu was employed by Pingan Group., a finance group in China. Mr. Liu received his Bachelor degree of Environmental Engineering from Jiangsu University.

Yong Li, 37

Mr. Li has served as Managing Director of Tian Feng Tian Rui Investment Corp., an affiliate of Tian Feng Securities, in China since July 2016. From November 2013 to June 2016, Mr. Li served as Vice President of Tao Shi Equity Investment Management Corp., an investment company in China. From August 2011 to October 2013, Mr. Li served as director of Shenzhen Pingan Real Estate Corp., a subsidiary of Pingan Group in China. From July 2009 to November 2011, he served as director of Zhong Rong Trust Corp. From September 2006 to July 2009, Mr. Li was employed by Standard Chartered Bank. Mr. Li received his Bachelor degree from Chongqing University and MBA degree from Shanghai Jiaotong University.

Lei Wang, 42 [Resigned 7/28/21]

Mr. Wang has served as General Manager of Zhejiang Blue Stone Capital Management Corp. since April 2018. Mr. Wang served as Deputy General Manager, in charge of investments, for Zhejiang Zhihe Zhituo Equity Investment Funds Corp., from April 2015 to April 2018. Mr. Wang was the investment director of Jiangsu Jinmao Jingxin Investment Corp. from December 2009 to February 2015. From 2007 to 2009, Mr. Wang was the Deputy General Manager of Nanjing Kengding Education Training Corp. Prior to that, Mr. Wang served as the General Manager at a branch company of PASCO Investment Management Co., Ltd from 2004 to 2007, Assistant Manager of Beijing Anshan Securities Ltd. from 2001 to 2004 and Assistant Manager of Tianjin Everbright Yongming Insurance Corp. from 1999 to 2001. Mr. Wang received his Bachelor degree in Finance from Nankai University of China.

Chao Liu, 37

Mr. Liu has served as the director of Shanghai Midai Investment Group since December 2018. From August 2016 to December 2018, Mr. Liu served as General Manager of Zhong Fei Finance & Leasing Corp. From August 2015 to August 2016, he served as South China General Manager at Zhong Rong International Trust Corp. From August 2006 to July 2015, he served as General Manager of Chengdu Chaotuo Culture Media Corp. Mr. Liu received a B.A. in Business Administration Science from South West University of Finance and Economics in China.

Zhijie Wang, 35 [Appointed 7/29/21]

Mr. Wang, age 35, has served as secretary of the board of Jiangsu China Federation Transportation Industry Group Co., Ltd. since July 2020. From April 2019 to June 2020, Mr. Wang has served as the secretary of board of directors of CAR-T (Shanghai) Biotechnology Co., Ltd. Previously, Mr. Wang was secretary of the board of directors and director of Huatai Jewelry Development (Shanghai) Co., Ltd. from October 2015 to March 2019. Prior to that, Mr. Wang was a manager of Shanghai SASAC from July 2008 to September 2015. Mr. Wang received his MBA degree from Shanghai Fudan University in 2018 and his Bachelor of Business Management degree from Shanghai Maritime University in 2008.