According to the Zhitong Finance App, Huali Group (300979.SZ) announced that the company or its wholly-owned subsidiary plans to invest no more than 500 million US dollars in O-Net Technologies Group Limited with its own capital to obtain no more than 25% of the shares in the target company. If the transaction is successfully implemented, the company will directly or indirectly hold minority shares in the target company.
O-Net Technologies Group Limited is a company incorporated under the laws of the Cayman Islands and is currently undergoing a shareholding and organizational restructuring. After the restructuring is completed, the target company will become a global business holding platform. Its companies are mainly engaged in R&D, production and operation of optical communication products around the world. Among them, Onner Technology (Shenzhen) Group Co., Ltd. (“Onner Shenzhen” for short) is the global business headquarters. The restructured global business layout will also include R&D centers in the US and Canada, domestic R&D centers in Beijing, Wuhan, and Hangzhou, and production bases in Thailand and France.
The company or a wholly-owned subsidiary of the company will directly hold the shares of the underlying company by transferring shares of the original shareholder or capital increase after the restructuring of the target company is completed; or subscribe for the convertible bonds issued by the target company during the restructuring process. The convertible bonds will automatically be converted into shares of the target company in accordance with the agreement after the conditions are met.