Tsinghua Unigroup: Has signed a restructuring investment agreement with strategic investors

On December 13, the administrator of Tsinghua Unigroup published an announcement on the Shanghai Stock Exchange website stating that under the supervision and guidance of the court, it had extensively carried out the recruitment of strategic investors in accordance with the principles of openness, fairness and impartiality, and conducted multiple rounds of selection of restructuring investment plans by establishing a selection mechanism. It was determined that the consortium led by Beijing Zhilu Asset Management Co., Ltd. and Beijing Jianguang Asset Management Co., Ltd. would be the strategic investors for the substantive merger and restructuring of Tsinghua Unigroup and seven other companies.

Tsinghua Unigroup disclosed that as of the date of this letter, the administrator has signed a "Restructuring Investment Agreement" with relevant strategic investors, formulated a draft restructuring plan, and submitted it to the Beijing No. 1 Intermediate People's Court.

As early as July 10 this year, Tsinghua Unigroup and Ziguang Guowei simultaneously announced that they had received a notice from the indirect controlling shareholder Tsinghua Unigroup, which received a notice from the Beijing No. 1 Intermediate People's Court on July 9 that the creditor Huishang Bank Co., Ltd. applied to the Beijing No. 1 Intermediate People's Court for reorganization of Tsinghua Unigroup. As of the date of the letter, there is still uncertainty as to whether the reorganization application filed by the creditor will be accepted by the court and whether Tsinghua Unigroup will enter the reorganization procedure. 

Tsinghua Unigroup said that its wholly-owned subsidiary, Tibet Tsinghua Unigroup Communications Investment Co., Ltd., holds 1,328,555,471 shares, accounting for 46.45% of the total shares of the company. If Tsinghua Unigroup enters the reorganization process, the reorganization plan may have an impact on the company's equity structure. 

Unigroup Guoxin said that Tibet Unigroup Chunhua Investment Co., Ltd., a wholly-owned subsidiary of Unigroup, holds 196,562,600 shares of the company, accounting for 32.39% of the total shares of the company. If Unigroup enters the reorganization process, the reorganization plan may have an impact on the company's equity structure.

Tsinghua Unigroup said that as of now, all of the company's production and operation activities are proceeding normally.