On the evening of December 10, the announcement of the listed company Unisplendour Guowei revealed the progress of the bankruptcy reorganization of its indirect controlling shareholder Unisoc Group . The announcement stated that the consortium formed by Beijing Zhilu Capital and Beijing Jianguang Capital as the leading parties was determined to be the strategic investor for the substantive merger and reorganization of seven companies including Ziguang Group. That night, Ziguang Shares , Xueda Education , etc. also issued this announcement.
In July this year, Ziguang Group entered the judicial reorganization process and started the recruitment of strategic investors. On October 18, under the auspices of the Beijing No. 1 Intermediate People's Court, the first creditors meeting of the substantive merger and reorganization case of seven companies including Ziguang Group disclosed that a total of seven intended investors signed up to participate in strategic investment.
Zhilu and Jianguang Consortium took over
On the evening of December 10, Ziguang Guowei announced that it received a notification letter from the manager of Ziguang Group. The notification letter stated, "The manager of Ziguang Group passed the national enterprise on July 20, 2021 The Bankruptcy and Reorganization Case Information Network issued the "Announcement of the Manager of Ziguang Group Co., Ltd. on the Recruitment of Strategic Investors". Under the supervision and guidance of the court, the recruitment of strategic investors will be carried out extensively in accordance with the principles of openness, fairness and impartiality, and the selection will be established. The mechanism carried out multiple rounds of selection of reorganization investment plans, and determined that the consortium composed of Beijing Zhilu Asset Management Co., Ltd. and Beijing Jianguang Asset Management Co., Ltd. as the leading parties was the strategic investor in the substantive merger and reorganization of seven companies including Ziguang Group, in accordance with the law. Promote the signing of the reorganization investment agreement and the formulation of the draft reorganization plan with strategic investors. The draft reorganization plan must be submitted to the creditors' meeting for voting and approval according to relevant legal provisions, and can only take effect after being approved by the People's Court. "
Source: Ziguang. Guowei announced
that Ziguang Group entered the judicial reorganization process on July 16 this year. Its six affiliated platform companies were also included in the scope of substantive merger and reorganization on August 27. Immediately after the restructuring of Ziguang Group, the recruitment of strategic investors was carried out simultaneously. . According to the news released by Ziguang Group’s official Weibo on October 18, under the auspices of the Beijing No. 1 Intermediate People’s Court, the first creditors’ meeting of the substantive merger and reorganization case of seven companies including Ziguang Group was held that day. The meeting disclosed that as of the registration deadline, a total of 7 intended investors had signed up to participate.
According to the strategic investor recruitment announcement published by the administrator of Ziguang Group on the "National Enterprise Bankruptcy and Reorganization Case Information Network", strategic investors should have total assets of no less than 50 billion yuan, net assets of no less than 20 billion yuan, and Principle conditions such as management, operation or merger and acquisition integration experience in the chip industry and cloud network industry.
Source: National Enterprise Bankruptcy and Reorganization Case Information Network
What are the origins of Zhilu Capital and Jianguang Capital?
According to the official website of Zhilu Capital, the company is a global professional equity investment institution that focuses on investment opportunities in semiconductor core technologies and other emerging high-end technologies. Its investment cases include Nexperia , Lingsheng Technology, Huaqin Technology, etc.
Jianguang Capital is also well-known in the field of semiconductor investment and mergers. Jianguang also participated in the aforementioned Nexperia acquisition case.
Tsinghua Holdings or transferred to Sichuan Energy Investment
According to reports, Ziguang Group was founded in 1993, formerly Tsinghua University Science and Technology Development Corporation. It was restructured in 2004 and the current controlling shareholder is Tsinghua Holdings. After nearly three decades of development, Ziguang Group has formed a diversified business structure with chip business and cloud network business as the main business, supplemented by energy, finance, education and other businesses, involving Ziguang Guowei, Ziguang Co., Ltd., and Xueda Education. company.
In the cloud network industry sector, Ziguang Co., Ltd., a subsidiary of Ziguang Group, is an important domestic IT service provider, with a complete "cloud-network-end" industry chain, with a total market value of 73 billion yuan.
It is worth noting that on the night of December 10, companies such as Ziguang Guowei, Ziguang Co., Ltd., Xueda Education, Tongfang Co., and other companies also announced that Tsinghua University planned to transfer its holdings of Tsinghua Holdings through free transfer. 100% of the equity was transferred to Sichuan Energy Investment .
Source: Ziguang Guowei Announcement
According to the announcement, Ziguang Group is the indirect controlling shareholder of Ziguang Guowei. It holds 197 million shares of Ziguang Guowei through Tibet Unisplendour Chunhua, accounting for 32.39% of the company’s shares; Ziguang Group is also the indirect controlling shareholder of Ziguang Guowei. The controlling shareholder holds 1.329 billion shares of Ziguang through Tibet Unisoc Communication, accounting for 46.45% of the company’s shares. Ziguang Group and its wholly-owned subsidiaries hold a total of 22.0516 million shares of Xueda Education, accounting for 18.73% of the company’s total shares.
Ziguang Guowei and Ziguang Co., Ltd. stated that Tsinghua Holdings currently holds 51% of the equity of Ziguang Group. As of the announcement date, affected by the reorganization of seven companies including Ziguang Group and this free transfer, the company’s equity structure and actual controller situation There is uncertainty about the changes.
Xueda Education stated that the reorganization of seven companies including Ziguang Group and this free transfer will not lead to changes in the actual controller of the company.
editor: Wang Yin
