CICA Security (688225.SH) disclosed plans for major asset purchases and related transactions, and the company plans to adopt a wholly-owned subsidiary...
Zhitong Finance App News, Cassic Security (688225.SH) disclosed a major asset purchase and related transaction plan. The company plans to establish a domestic SPV through wholly-owned subsidiaries ASIX Jin'an, ASIC Chengdu and Kehai Investment and other investors introduced later, and that the domestic SPV will fund the establishment of an overseas wholly-owned subsidiary as the acquirer to purchase 19.236% or 20.316% of the shares of ASIX Technology held by the counterparty; at the same time, it is proposed to obtain Information Addition and control of Tian Suning and his control through voting rights entrustment. PacificInfo and CBC Partners collectively held voting rights corresponding to 9.572% to 9.605% of ASIC Technology's shares immediately following the share acquisition and settlement. After the transaction is completed, the company will become the controlling shareholder of ASIC Technology.
For the purpose of this major asset restructuring, the company, ASIC Jin'an, and Kehai Investment signed a “Joint Investment Agreement” on January 16, 2024, agreeing that ASIC Jin'an will pledge a share of 100,000 yuan from ASIC Jinxin Partnership (i.e. domestic SPV), 300 million yuan from ASIC Chengdu, and 480 million yuan from Kehai Investment. In the case where the company purchased 19.236% of ASIX Technology's shares, the transaction consideration was HK$1.7 billion; in the case where the company purchased 20.316% of ASIX Technology's shares, the transaction consideration was HK$1,796 billion.
According to the announcement, the main business of the target company ASIX Technology includes: business support system (BSS) business, digital intelligence operation business, vertical industry and enterprise cloud business, and network support system (OSS) business. The target company is a leading domestic provider of software products, solutions and services. It provides end-to-end, full-link digital intelligence services for hundreds of industries through comprehensive application of digital intelligence full-stack capabilities such as consulting and planning, product development, implementation and delivery, system integration, data operation, intelligent decision-making, and customer service. Customers span telecom operators, radio and television, energy, government, transportation, finance, postal and other industries.
The announcement stated that through this transaction, the company will further build a competency system that “understands the Internet, understands the cloud, and understands security”, enhance the integration capabilities of “cloud network security”, extend and enhance the company's overall solution capabilities.