Tsinghua Tongfang Co.,Ltd. announced that it has received CNY 300 million in funding from AVIC Securities Co., Ltd. and other investors.
December 27, 2023
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Tsinghua Tongfang Co.,Ltd. announced that it will receive investment in a round of funding on December 28, 2023.
On the same date, the company issue a private placement of 3,000,000 scientific and technological innovation corporate bonds at an issue price of CNY 100 per bond for proceeds of CNY 300,000,000 in its first tranche. The transaction included participation from new investor, AVIC Securities Co., Ltd for CNY 30,000,000 along with other investors. The company's directors, supervisors, senior managers, shareholders holding more than 5% of the shares and other related parties did not subscribe for this bond. The bonds were slated to be issued for no more than CNY 3,000,000,000. The bonds carry a coupon rate of 3.30%, and the subscription multiple was 1.96 times. The term of the bonds is 2+1 years, with investors? sell-back options, redemption options and coupon rate adjustment options at the end of the second year. The transaction has been approved by board of directors of the company and the Shanghai Stock Exchange vide Shanghai Securities Letter No. 202313351.
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.