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SHE:002792

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Asia

Tongyu Communication Revises Acquisition Plan for Purchase of 25% Stake in Mobile Communication Equipment Company

Tongyu Communication (SHE:002792) revised the acquisition plan for the purchase of a 25% stake in Shenzhen Jiaxian Communication Technology for 300 million yuan to protect buyer interests, according to a Tuesday filing with the Shenzhen bourse.Under the revised plan, the first phase of the transaction involving the purchase of 10.9 million shares for a 15% stake will now be done under a single phase following payment in an escrow account instead of delivering the shares under four tranches.Payments will also be given in advance instead of after delivery of shares in the mobile communication equipment company, the filing said.

SHE:002792
Asia

Tongyu Communication Clarifies Rumors Over Jiaxian Communication's Involvement With Nvidia

Tongyu Communication (SHE:002792) denied rumors that Shenzhen Jiaxian Communication Technology signed a research and development agreement with Nvidia for the development of 6G AI-RAN base stations, according to a Friday disclosure on the Shenzhen bourse.The statement was made after the issue was published on online media outlets. The antenna manufacturer is processing its acquisition of 25% of Shenzhen Jiaxian Communication Technology, with a consideration of 300 million yuan.Tongyu clarified that the wireless communication products manufacturer is conducting R&D on 6G AI-RAN base station technology based on Nvidia's CUDA Aerial open-source ecosystem platform, but there are no exclusive authorization arrangements. The product is still in the early stage of development.Tongyu's shares jumped 10% at the close.

SHE:002792
Asia

Tongyu Communication to Buy Up to 25% Stake in Mobile Communication Equipment Company

Tongyu Communication (SHE:002792) will purchase up to a 25% stake in Shenzhen Jiaxian Communication Technology for 300 million yuan, according to a Wednesday filing with the Shenzhen bourse.The purchase will take place in two stages. Phase 1 will involve the purchase of 10.9 million shares, or a 15% stake in the mobile communication equipment company, for 180 million yuan, while phase 2 will see the purchase of 7.3 million shares, or 10%, for 120 million yuan.Tongyu will have the right to decide whether to implement the transaction within three months of the final installment of phase 1.

SHE:002792
Asia

Tongyu Communication to Dispose of Property Assets for 57 Million Yuan

Tongyu Communication (SHE:002792) agreed to offload property assets in China's Zhongshan Torch High-tech Development Zone to Shenzhen Jingyuheng Property for 57 million yuan, according to a Shenzhen bourse filing on Wednesday.The assets comprised land use rights with an area measuring 21,445.20 square meters and buildings with a gross floor area of 35,830.65 square meters.The property, which was originally intended for the construction of the communications equipment manufacturer's manufacturing facilities, is idle.

SHE:002792
Asia

Tongyu Communication Pledges 10 Million Yuan Injection into Partnership Fund

Tongyu Communication (SHE:002792) committed to invest 10 million yuan into a partnership fund as a limited partner, according to a Shenzhen bourse filing on Tuesday.The seven-year fund, Qingdao Qiheng Flame No. 3 Venture Capital Fund Partnership (Limited Partnership), will have a fund size of 76.5 million yuan.The Chinese communications equipment manufacturer will hold about 13% of the fund's capital.

SHE:002792
Asia

Tongyu Communication's Partnership Fund Completes Registration

Tongyu Communication (SHE:002792) said a partnership fund it co-funded as a limited partner completed its filing and registration, according to a Shenzhen bourse filing on Saturday.The Chinese communications equipment manufacturer's shares dropped 4% lower on Monday.The Huaxia Zhuoyao Venture Capital Fund (Beijing) Partnership (Limited Partnership) was established to invest in enterprises manufacturing satellites.The company invested 10 million yuan into the partnership fund.

SHE:002792

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