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Ruisheng technology subsidiary obtained 1.15 billion capital increase, and Xiaomi oppo was the investor

Publisher: Administrator    Date:2020-08-12

Among them, Hubei Xiaomi Yangtze River Industry Fund Partnership (Limited Partnership) and OPPO Guangdong Mobile Communications Co., Ltd. invested 480 million yuan each to obtain 4% of the equity;

Shenzhen Huiyou Haochuang Technology Investment Partnership (Limited Partnership) invested 120 million yuan and obtained 1% of the equity; Nanjing Huarui Ruijun Venture Capital Center (Limited Partnership) invested 70 million yuan and received 0.58% of the equity.

The post-investment valuation of AAC Communications is 12 billion yuan. After the financing, AAC Communications remains a holding subsidiary of AAC Technologies and is included in the scope of AAC Technologies’ consolidated statements.

AAC Technology stated that the introduction of investment by AAC Communications will help enhance the industry's position, promote the diversification of shareholder structure, accelerate business development, and optimize the integration of business resources.

"AAC Communications will fully combine the resource advantages of its own and strategic investors to gain a deeper understanding of future market needs, tap user experience, and grasp industry development trends and opportunities."

AAC Communications uses the funds obtained from this financing to increase operating capital, purchase assets involved in normal operations, hire personnel and related research and development expenses, and other expenses approved by the board of directors of AAC Communications or agreed by specific investors.

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