On November 12, Huatian Technology announced that the company’s subsidiary Xi’an Tianli Investment Partnership (Limited Partnership) (hereinafter referred to as “Xi’an Tianli”) and Nanjing Huayu Management Consulting Partnership (Limited Partnership) (hereinafter referred to as “Nanjing Tianli”) Huayu”) and other 28 investors signed the “Jiangsu Shengyu Huatian Industrial Investment Fund (Limited Partnership) Partnership Agreement”.
Image source: Screenshot of Huatian Technology Announcement
The announcement shows that all partners plan to jointly invest in the establishment of Jiangsu Shengyu Huatian Industrial Investment Fund (Limited Partnership) by way of cash contribution (tentative name, subject to the name of the enterprise approved by the registration authority, hereinafter referred to as the “Industry Fund”). The total subscribed capital contribution of all partners is RMB 1.060 billion.
Among them, Nanjing Huayu, as a general partner, subscribed for 10 million yuan, with a subscription ratio of 0.94%; Xi’an Tianli, as a limited partner, subscribed for 125 million yuan, with a subscription ratio of 11.79%; the remaining 26 investors As a limited partner, a total of 925 million yuan has been subscribed, with a subscription ratio of 87.27%. At the same time, Xi’an Tianli, as a limited partner, subscribed to contribute 2 million yuan to increase the capital of Nanjing Huayu, with a subscription ratio of 20%.
According to the announcement, the contribution time is that the contribution of the industrial fund will be paid in two installments. The first installment of 60% (or RMB 636 million) will be paid in place no later than November 30, 2021; the second installment of 40% (or RMB 4.24 RMB 100 million) shall be paid in place no later than November 30, 2023 or when the remaining investable amount of the first phase of investment is less than RMB 100 million.
In addition, the investment direction of the industrial fund is to focus on investing in integrated circuit related companies, and make equity investment in outstanding companies in semiconductor, Internet of Things and new materials and related industries.
Huatian Technology stated that this investment does not involve related transactions, nor does it constitute a major asset reorganization stipulated in the “Administrative Measures for Major Asset Restructuring of Listed Companies”.
Huatian Technology said that the industrial fund to be invested and established this time is mainly invested in integrated circuit related enterprises, which is to cooperate and promote each other with the company’s main business, the integrated circuit packaging and testing industry.
This investment will help the company to discover and cultivate high-quality projects, expand the company’s business areas, promote the company’s integration of industrial resources, and promote the company’s business development and strategy implementation. At the same time, the industrial fund invests in chip design-related targets, which can cultivate potential high-quality customers for the company, strengthen the comprehensive strategic cooperation between the company and customers, and realize the sustained and rapid development of the company’s main business.
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