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

Thanks to CTOnews.com netizen Snailwang for the clue delivery! CTOnews.com April 10 news, April 9, Oriental Materials announcement announced plans to raise funds through a fixed increase to acquire the communications giant Nokia (Dingqiao Communications) held 51% stake in TD TECH (Dingqiao Communications), the transaction consideration is 2.1216 billion yuan. Upon completion of the acquisition, TD TECH will become a controlling subsidiary of the listed company. Oriental Materials also suggested in the plan that if the cooperative relationship between TD TECH and Huawei changes in the future, it may adversely affect the development of TD TECH business.

In this regard, the Shanghai Stock Exchange issued a regulatory work letter to Oriental Materials on April 9, putting forward regulatory requirements for the company's non-public offering.

It is worth mentioning that in the late night of the 9th, Huawei officially issued a statement saying that the company has no intention and possibility to operate TD TECH in a joint venture with New Oriental New Materials. Huawei said that the operation of TD TECH with Nokia is based on the strategic cooperation between the two sides and their technical strength, global sales and service capabilities. Huawei agrees with Nokia to sell its stake, but the purchaser must have the same strategic capability to have the basis for continuing the existing cooperation. We do not have any intention and possibility to operate TD TECH in a joint venture with New Oriental New Materials. Huawei is reviewing the situation and has the right to take follow-up measures, including, but not limited to, the exercise of pre-emptive rights, the withdrawal of all shares, and the termination of relevant technology licenses to TD TECH and its subsidiaries. Huawei expects shareholders with strategic value to support the continued development of TD TECH.

According to CTOnews.com, Dingqiao Communication Technology Co., Ltd. is a joint venture between Siemens and Huawei Technology Co., Ltd., which was officially established in Beijing on March 24, 2005. On April 1, 2007, Nokia and Siemens jointly established Nokia Siemens Communications, and Siemens transferred all its Dingqiao shares to Nokia Siemens Communications. In July 2013, Nokia announced a 1.7 billion euro acquisition of Siemens'50 per cent stake in Nokia Siemens Communications and renamed the company Nokia Solutions and Networks, or NSN. According to the announcement, TD TECH is registered in Hong Kong, and Nokia and Huawei own 51% and 49% of the shares respectively. Among its directors, Xu Zhijun, he Haipeng, Zhang Qi and Yan Lida are all Huawei executives. Xu Zhijun is the vice chairman and rotating chairman of Huawei.

Dingqiao Communications has reached a certain cooperative relationship with Huawei in various business sectors, such as industry wireless products, terminal products, Internet of things products and so on. In terms of technology, some of Dingqiao's products are based on Huawei's license and are developed and optimized on the basis of Huawei's underlying technology or existing products; in terms of sales, some of Dingqiao's products are sold in cooperation with Huawei. Dingqiao Communications has launched Dingqiao N8 Pro and Dingqiao M40 phones, 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 does not support.

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