Statement on Unigroup Guoxin's Termintation of A Major Asset Restructuring Plan and Resuming Stock Trading

  • Number of visits: 7926
  • Date: 2017-07-17

On July 16th, Unigroup Guoxin.Co.,Ltd issued an announcement on the termination of a major asset restructuring plan and resuming stock trading, deciding to terminate the major asset restructuring plan. In order to avoid misreading by some investors and the media, the relevant information is clarified as follows:

1. Yangtze Memory Technologies Co.,Ltd.(YMTC) is the main entity to implement the national memory base project, which is jointly funded by Tsinghua Unigroup’s subsidiary, Unisplendor Guoqi Technologies Holdings, China IC Industry Investment Fund, Hubei Guoxin Industry Investment Fund and Hubei Science &Technology Investment Group, in which the capital contribution of Unisplendor Guoqi Technologies Holdings is 19.7 billion RMB, accounting for 51.04%.Hence Tsinghua Unigroup owns the controlling shareholder. Up till now, the total share capital 38.6 billion of Unisplendor Guoqi Technologies Holdings and other shareholders has been fully in place.

2. Since the groundbreaking ceremony on December 30, 2016, the national memory base project’s construction, undertaken by YMTC, is being implemented as planned and progressing smoothly.

3. Unigroup Guoxin terminated the YMTC equity acquisition. The main reason is that the national memory base project is still in the initial stage of construction with huge investment in early stage, which is unable to generate sales revenue in short term. Unigroup Guoxin considers that the conditions for YMTC acquisition are not mature enough, so Guoxin terminated this equity acquisition.

4. The termination of a major asset restructuring plan by Unigroup Guoxin will not impact YMTC’s construction, operation and development. Tsinghua Unigroup will continue to implement "from chip to cloud" industrial development strategy, continuously invest YMTC, and effectively complete the national memory base construction mission.