Financial News
Written by: Zhang Weilun
2020-07-22 18:35
Last update date: 2020-07-22 18:35AAC Technology (2018) announced that its subsidiary, AAC Communications Group, has been reorganized to focus on the optical business and has introduced 44 strategic investors. The 4 investors are Xiaomi (1810), OPPO, Shenzhen Huiyou Haochuang Technology and Nanjing Huaruijun Venture Capital Center. The total capital increase is RMB 1.15 billion, and a total of approximately 9.58 after the capital increase and share expansion of AAC Communications % Equity.
AAC stated that this move greatly strengthens AAC's expansion and strategic layout in the optical business. It is also conducive to the follow-up of AAC Communications to promote the marketization process and gradually build an independent capital market operation platform to promote the sustainable growth of the business, thereby enhancing the overall value of the group.
The proceeds from this financing will be used to increase operating capital, purchase assets involved in normal operations, hire personnel and related research and development expenses, and other expenditures approved by the board of directors of AAC Communications or agreed by specific investors.
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