On April 16th, Huapu Group Limited (hereinafter referred to as "Huapu Group") announced that it has signed a $500 million equity subscription agreement with GEM Global Yield LLC SCS (hereinafter referred to as "GEM"), a private alternative investment group in Luxembourg. Huapu Group can increase the total financing amount to $1 billion upon prior written notice to GEM. This important cooperation not only provides strong financial support for Huapu Group, but also is a crucial step in its intelligent development and international expansion strategy.
Hu Yinan, Vice Chairman and CEO of Huapu Group, said, "This cooperation not only provides stable financial support for Huapu Group, but also recognizes our long-term strategic planning. GEM's capital assistance will become an important driving force for our intelligence and internationalization process."
According to the agreement signed with GEM, Huapu Group will issue and sell ordinary shares worth a total of $500 million, to be delivered to GEM in the form of American Depositary Shares (ADSs). The agreement stipulates that within 3 years after signing the contract, Huapu Group will issue targeted additional shares to GEM in batches to withdraw investment funds. The specific time and corresponding number of stocks for each withdrawal will be led by Huapu Group, and there will be no minimum withdrawal obligation. This fund will mainly be used to drive Huapu Group's investment in artificial intelligence, robot software and hardware, sports IP and other fields, as well as seeking merger and acquisition opportunities that can increase the company's value.
Huapu Group is the controlling shareholder of China's third-party intelligent financial service platform, Pan China Holdings Group, and has also acquired 77.5% equity of Singaporean artificial intelligence robot hardware manufacturer Huade Lingjun. At the same time, the group also owns China's third-party wealth management service provider, Pan China Puyi Fund Sales Co., Ltd., which can provide customers with comprehensive personalized diversified asset allocation services. (Reporter/Leng Cuihua)