Tsinghua Unigroup issued an announcement on the reorganization of indirect controlling shareholders

Recently, the news of the bankruptcy of Ziguang Group has sparked heated discussions among everyone. The school-run enterprise of Tsinghua University, which was once a school-run enterprise, has suddenly collapsed.

A source familiar with the matter said that Alibaba and several government-backed companies were considering buying a stake in Tsinghua Unigroup, with a bid that could be as high as 50 billion yuan.

Today, Ziguang shares officially released the latest announcement, which pointed out that the Beijing No. 1 Intermediate Court ruled to accept the reorganization application of relevant creditors to the indirect controlling shareholder Ziguang Group, and designated the liquidation team of Ziguang Group Co., Ltd. as the administrator of Ziguang Group.

The following is the original text of the announcement:

Unisplendour Co., Ltd.

Announcement on the Court's Ruling to Accept the Reorganization of Indirect Controlling Shareholders

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.

On July 16, 2021, Ziguang Co., Ltd. (hereinafter referred to as the "Company") received a notification letter from the indirect controlling shareholder Ziguang Group Co., Ltd. On the 16th, it received the (2021) Jing 01 Po Shen No. 307 "Civil Ruling" and (2021) Jing 01 Po No. 128 "Decision Letter" served by the Beijing No. 1 Intermediate People's Court (hereinafter referred to as "Beijing No. 1 Intermediate Court"). ". According to the "Civil Ruling" and "Decision", the Beijing No. 1 Intermediate Court ruled to accept the relevant creditors' application for reorganization of Ziguang Group, and designated the liquidation team of Ziguang Group Co., Ltd. as the administrator of Ziguang Group.

As of the date of this announcement, Tibet Ziguang Communication Investment Co., Ltd., a wholly-owned subsidiary of Ziguang Group, holds 1,328,555,471 shares of the company, accounting for 46.45% of the company's total shares. Ziguang Group has entered the reorganization process, which may have an impact on the company's shareholding structure.

Ziguang Group's entry into the reorganization process has not had a direct impact on the company's daily production and operation. Currently, the company's various production and operation activities are carried out normally.

The net cash flow from operating activities changed from a net inflow of 9.411 billion yuan in the same period of 2019 to a net outflow of 4.164 billion yuan.

At present, the cash reserves are seriously insufficient, resulting in a significant increase in short-term debt repayment pressure, resulting in the continued deterioration of the overall corporate financial situation.

According to the company's investigation data, this time Ziguang Group was filed for bankruptcy and reorganization because it could not repay its bonds when it expired, so it was applied for bankruptcy and reorganization by its creditor, Huishang Bank Co., Ltd., and the case number (2021) Beijing 01 broke Shen No. 307 was passed by the Beijing No. 1 Intermediate People's Court.

According to the data, Ziguang Group Co., Ltd. was established on April 12, 1993. Its legal representative is Zhao Weiguo, with a registered capital of 670 million yuan. Its business scope includes integrated circuit and mobile communication system base station equipment, switching equipment and digital integrated system equipment, wireless mobile Technology development, technology transfer, technical consultation, and technical services of communication integrated circuits, baseband, radio frequency, multimedia chips and related digital chips; integrated circuit design; real estate development; project investment; investment management, etc. The company is a 51% holding subsidiary of Tsinghua Holding Co., Ltd., which is a wholly-owned subsidiary of Tsinghua University.

At present, Ziguang Group has three listed companies: Ziguang Guoxin (002049), Ziguang Co., Ltd. (000938), and Xueda Education (000526). In addition, Ziguang Zhanrui, which plans to IPO on the Science and Technology Innovation Board, also belongs to Ziguang Group.

Ziguang shares, Ziguang Guowei, Ziguang Zhanrui responded

Regarding the news that Ziguang Group was filed for bankruptcy and reorganization by creditors, Ziguang Co., Ltd., Ziguang Guowei and Ziguang Zhanrui all said that they received a notification letter from the indirect controlling shareholder Ziguang Group, and the creditor Huishang Bank applied for the reorganization of Ziguang Group. As of the date of the letter, there is still uncertainty as to whether the reorganization application submitted by the creditor will be accepted by the court and whether Ziguang Group will enter the reorganization process.

Ziguang shares stated that as of the date of this announcement, Tibet Ziguang Communication Investment Co., Ltd., a wholly-owned subsidiary of Ziguang Group, held 1,328,555,471 shares in the company, accounting for 46.45% of the company's total shares. If Ziguang Group enters the reorganization process, the reorganization plan may have an impact on the company's shareholding structure. Ziguang Group's application for reorganization by creditors has not had a direct impact on the company's daily production and operation. At present, the company's various production and operation activities are carried out normally.

Ziguang Guowei stated that as of the date of this announcement, Tibet Ziguang Chunhua Investment Co., Ltd., a wholly-owned subsidiary of Ziguang Group, held 196,562,600 shares in the company, accounting for 32.39% of the company's total shares. If Tsinghua Unigroup enters the reorganization process, the reorganization plan may have an impact on the company's shareholding structure. Ziguang Group's application for reorganization by creditors has not had a direct impact on the company's daily production and operation. At present, the company's various production and operation activities are carried out normally.