100%! Tsinghua Unigroup has completely changed its owner

China Securities Journal reported on July 11 that Tsinghua Unigroup and its subsidiaries issued an announcement stating that the company has completed the industrial and commercial registration procedures for equity changes and new directors, supervisors and general managers.

The two original shareholders, Tsinghua Holdings and Beijing Jiankun Investment, have completely withdrawn. Beijing Zhiguangxin Holdings Co., Ltd., a holding platform established by the strategic investor "Zhilu Jianguang Consortium", has taken over 100% of the equity of Tsinghua Unigroup. The equity of Tsinghua Unigroup has been successfully transferred and there is no actual controller.

Image source: Tsinghua Unigroup official website

According to the provisions of the Restructuring Investment Agreement, Zhiguangxin Holdings, as the investment platform established by the strategic investor of this restructuring, will invest 54.9 billion yuan to acquire 100% equity of Tsinghua Unigroup and obtain control of Tsinghua Unigroup shares. The transaction has been completed. This marks the end of the judicial restructuring of Tsinghua Unigroup, whose total debt once reached 142.6 billion yuan.

From the outbreak of a serious debt crisis in November 2020 to the final stage of the process, Tsinghua Unigroup's debt crisis resolution and judicial reorganization took only one year and eight months. Industry insiders said that Tsinghua Unigroup's judicial reorganization case created a record of "five bests" since the implementation of my country's bankruptcy law: the highest efficiency, best results, highest repayment rate, best satisfaction, and most complete selection mechanism for the reorganization of a 100 billion-level enterprise.

At the same time, Tsinghua Unigroup also sent email notifications to all creditors, informing them that the remaining cash repayment will be paid in full in one lump sum on July 12, and the corresponding funds will arrive in the creditors' accounts before July 13.

In accordance with relevant provisions on judicial reorganization and execution, Tsinghua Unigroup will complete the deposit of uncollected debt repayment resources as soon as possible, make proper arrangements for the subsequent review and repayment of suspended and undeclared claims, and submit an application report to the People's Court to terminate the reorganization procedure. After the report is approved by the court, the reorganization and execution of Tsinghua Unigroup will be successfully completed as scheduled.