(Yicai Global) Nov. 20 -- China's state-owned Tsinghua Unigroup Co. [SHE:000938] has appointed Li Liyou as co-president to assist chair Zhao Weiguo in the planning and implementation of business development and major investment projects related to chip design.
Under the definitive agreement, Tsinghua Holdings subsidiary, Unisplendour Corporation, will purchase a 51% stake in a new business called H3C, comprising H3C Technologies and HP's China-based server, storage and technology services businesses, for approximately $2.3 billion, valuing the total business at $4.5 billion (net of cash and debt). Company profile page for Tsinghua Unisplendour Electronic Co including stock price, company news, press releases, executives, board members, and contact information. Tech News News: One year after the announcement of the subsidiary of Tsinghua Holdings, Unisplendour Corporation Limited’s plans to acquire 51% share of H3C Technolog.
Li Liyou will continue to serve as chair at Spreadtrum Communications, Inc. [NASDAQ:SPRD], with Zeng Xuezhong succeed him as chief executive of Spreadtrum Communications.
Li, who has over 30 years of experience in wireless communications, will help integrate resources and promote the implementation of TsingHua Unigroup's chip-to-cloud strategy.
Zeng will be fully responsible for business operations at Spreadtrum Communications. Under the core business strategy of TsingHua Unigroup, he will focus on improving Spreadtrum Communications' performance and helping the firm to become a global chip leader in the imminent 5G era, which in turn will accelerate the development of China's IC industry. Zeng Xuezhong, previously worked for Chinese telecommunications giant ZTE Corp. [SHE:000063] before joining TsingHua Unigroup in May 2017 and serves as global executive vice-president of TsingHua Unigroup and president at Unisplendour Corporation.
TsingHua Unigroup is a state-owned enterprise controlled by Tsinghua Holdings Co., the asset management unit of world-renowned Tsinghua University, which focuses on the integrated circuit industry and develops memory chips, mobile Internet, cloud computing, cloud services and other core areas of the information technology industry.
Tsinghua Unigroup is a backbone subsidiary of Tsinghua Holdings Co Ltd, and a state-owned assets management enterprise of Tsinghua University. Established in 1988 and formerly known as Tsinghua University Science and Technology Development Corporation, it was renamed Tsinghua Unisplendour (Group) Corporation in 1993.
In June 2009, Unigroup started to increase capital and enlarge shares, and introduced a new management team. The share of Tsinghua Holdings Co Ltd accounted for 51 percent, while a private-owned enterprise held 49 percent. As a result, Unigroup became a mixed ownership state holding enterprise based on market mechanism. This kind of ownership model has injected into the group extensive innovation space and development vigor.
Under the guidelines of the national strategy for integrated circuits, Tsinghua Unigroup has mapped out a strategy with integrated circuit industry taking the lead to march into the information industry's core fields such as mobile Internet, connectivity, cloud computing and cloud services. Self-independent innovation and international cooperation serve as the enterprise's dual-driving forces.
Tsinghua Unigroup completed three international mergers and accepted a foreign shareholder from July 2013 to June 2015. It spent $1.87 billion and $907 million for the acquisition of NASDAQ-listed companies Spreadtrum Communications and RDA Microelectronics and became the world’s third largest mobile phone chip manufacturer. It then signed a strategic cooperation agreement with global semiconductor giant Intel Corp, which invested 9 billion yuan ($1.5 billion) and took a 20 percent equity share of a subsidiary of the two acquired companies, Spreadtrum and RDA. It next bought a 51 percent stake in New H3C Group with $2.5 billion and became the top company in China and the world’s second largest provider in terms of Internet products and services.
In October 2015, Tsinghua Unigroup signed agreements to take shares of Taiwan-based Powertech Technology Inc and ChipMOS Technologies Inc, two giants in the IC Packaging & Testing industry, making a strong entry into the storage chip market by building an information industry ecosystem featuring chip-to-cloud computing.
Drivers Tsinghua Unisplendour Mobile Phones & Portable Devices Available
Tsinghua Unigroup is striving to be a world-level hi-tech enterprise. It has started constructing industrial parks in Beijing, Tianjin, Xiamen and Nanjing.
Drivers Tsinghua Unisplendour Mobile Phones & Portable Devices External
Unigroup spends a lot on research and development, and attracts talents throughout the world. In the next five years, it aims to achieve its goal of operational income of $100 billion, and the largest cell phone chip's market share in the world. The company itself works hard tobecome one of the top 3 semi-conductor companies globally at that time.