On the afternoon of June 26, 360 Company announced that its wholly-owned subsidiary, 360 (Beijing) Private Equity Fund Management Co., Ltd., plans to register its holding of Hezhong New Energy Automobile Co., Ltd. (“Nezha Automobile”) for 79994371.67 yuan. The capital (without actual capital contribution) corresponds to the transfer of 3.5320% equity of Nezha Auto to Jiaxing Xinzhu Equity Investment Partnership (Limited Partnership) and Shenzhen Jingcheng Open Enterprise Management Center (Limited Partnership), and the transfer consideration is 0 yuan. After the transfer is completed, the company still holds 11.4266% equity of Nezha Auto (corresponding to the registered capital of 258,792,571.58 yuan). According to the announcement, 360 disclosed in October 2021 that it has decided to invest 2.9 billion yuan in Nezha Auto, with a total paid-in investment of 1.9 billion yuan. Currently, there is still 1 billion yuan unpaid, corresponding to 3.5320% equity of Nezha Auto. After the transfer is completed, the transferee obtains a total of 799,94371.67 yuan of registered capital of the target company, and is obliged to pay the target company an investment amount of 1 billion yuan. In the announcement, 360 stated that this move is to optimize the equity structure of the target company, improve the governance mechanism of the target company, and develop in line with the long-term cooperation and development of mutual benefit and win-win between the two parties.
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