Shulou(Shulou.com)11/24 Report--

CTOnews.com April 10 news, Oriental materials yesterday evening announced plans to raise no more than 2 billion yuan, used to Nokia wholly-owned subsidiary NSN acquisition TD TECH 51% equity (transaction consideration 2.122 billion yuan). The remaining 49 per cent stake in TD TECH is held by Huawei, although Huawei issued a statement late yesterday night that it has no intention or possibility of operating TD TECH in a joint venture with Oriental Materials.

According to the Securities Times, the person in charge of Oriental Materials today said that he would communicate with all parties, and the follow-up matters would be subject to the announcement. The company did not reply to whether it had contacted Huawei before launching the acquisition.

Huawei's official statement said the company had no intention or possibility of operating TD TECH in a joint venture with New Oriental New Materials. Huawei said that TD TECH operation with Nokia is based on strategic cooperation between both parties, technical strength of both parties and global sales and service capabilities. Huawei agrees with Nokia's sale of equity, but the purchaser must have the same strategic capabilities to have the basis for continuing the existing cooperation. The Company has no intention or possibility to operate TD TECH in a joint venture with New Oriental New Materials. Huawei is evaluating the relevant situation and has the right to take follow-up measures, including but not limited to exercising the right of preemption, selling all shares and withdrawing, and terminating the relevant technology licenses for TD TECH and its subsidiaries. Huawei expects shareholders with strategic value to jointly support TD TECH's continued development.

According to CTOnews.com, Dingqiao Communication Technology Co., Ltd. is a joint venture jointly established by Siemens AG of Germany and Huawei Technologies Co., Ltd., which was officially established in Beijing on March 24, 2005. On April 1, 2007, Nokia and Siemens jointly established Nokia Siemens Networks, and Siemens transferred all its shares of Dingqiao to Nokia Siemens Networks. In July 2013, Nokia announced a € 1.7 billion acquisition of Siemens '50% stake in Nokia Siemens Networks, renaming the company Nokia Solutions and Networks (NSN). According to the announcement disclosure information, TD TECH company is registered in Hong Kong, Nokia and Huawei hold 51% and 49% equity respectively. Xu Zhijun, He Haipeng, Zhang Qi and Yan Lida among its directors are Huawei executives, among which Xu Zhijun is Huawei vice chairman and rotating chairman.

Dingqiao Communication has reached certain cooperation relations with Huawei in various business segments such as wireless products, terminal products and Internet of Things products in the industry. In terms of technology, some products of Dingqiao are based on Huawei authorization, developed and optimized on the basis of Huawei's underlying technology or existing products; in terms of sales, sales of some products of Dingqiao cooperate with Huawei. Dingqiao Communications has launched two phones, the Dingqiao N8 Pro and Dingqiao M40, which are similar in design and configuration to Huawei nova8 Pro and Huawei Mate40, but use MediaTek Tianji series processors and support 5G networks that Huawei phones do not support.

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