Tsinghua Tongfang Co., Ltd. announced that it expects to receive CNY 3.499999991 billion in funding from National Civil-Military Integration Industrial Investment Fund Co., Ltd., China National Nuclear Corporation Capital Holding Co., Ltd.
May 28, 2020
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Tsinghua Tongfang Co., Ltd. announced that it has entered into share subscription agreement with National Civil-Military Integration Industrial Investment Fund Co., Ltd. and existing investor China National Nuclear Corporation Capital Holdings Limited for private placement of 538,461,537 shares of class A at issue price of CNY 6.50 per share for gross proceeds of CNY 3,499,999,990.5 on May 29, 2020. The new investor, National Civil-Military Integration Industrial Investment Fund Co., Ltd. subscribes for 153,846,153 shares for gross proceeds of CNY 999,999,994.50 and returning investor, China National Nuclear Corporation Capital Holdings Limited subscribes for 384,615,384 shares for gross proceeds of CNY 2,499,999,996. The transaction has been approved at the 4th meeting of the 8th supervisory board of the company. The transaction still needs to be approved by China National Nuclear Corporation, shareholders of the company at the general meeting, National Defense Science and Technology Industry Bureau, and China Securities Regulatory Commission. The subscription payment date shall be the date that the company obtains the approval from China Securities Regulatory Commission and the investor receives the subscription payment notice within 20 days from the start from the company. All the shares issued in the transaction shall have a lock up period of 18 months from the closing of the transaction.
On June 12, 2020, the company has received written reply from China National Nuclear Corporation, parent of China National Nuclear Corporation Capital Holding Co., Ltd.
Tsinghua Tongfang Co., Ltd. is a technology group organized around 3 areas of activity:
- information and communication technologies: development and integration of smart networking solutions and systems, development of data processing systems, high-end communication equipment, software publishing, computer manufacturing, consumer electronics manufacturing, etc. The group also develops industrial control systems, smart transport systems, home automation systems, and shipbuilding solutions;
- public safety: development of control and security solutions, urban management and monitoring systems, access control systems, smart cards, information security systems, satellite positioning systems, etc. ;
- energy and environment: development of energy efficiency solutions, district heating systems, residual heat recovery systems, urban lighting systems, waste and water management and treatment systems, etc.
China accounts for 65% of net sales.
Tsinghua Tongfang Co., Ltd. announced that it expects to receive CNY 3.499999991 billion in funding from National Civil-Military Integration Industrial Investment Fund Co., Ltd., China National Nuclear Corporation Capital Holding Co., Ltd.