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Fund(s) owned by Xiongan Group and/or Xiongan Management Committee and Tsinghua Holdings will be the largest shareholders of TUS- Holdings, which enlighten the development of vehicle-road-cloud computing autonomous driving solutions in Xiongan

21.03.2019

The Company has been notified by Tus-Holdings Co., Ltd. (“Tus-Holdings”) that a framework agreement was entered into between Hebei Xiongan New District Management Committee* (河北雄安新區管理委員會) (“Xiongan Management Committee”), China Xiongan Group Co., Ltd.* (中國雄安集團有限公司) (“Xiongan Group”), Tsinghua University (清華大學), Tsinghua Holdings Co., Ltd.* (清華控股有限公司) (“Tsinghua Holdings”) and Tus-Holdings (collectively, the “Parties”) on 20 March 2019 (the “Framework Agreement”). 

The Company has been informed that pursuant to the Framework Agreement, the Parties will cooperate with each other in relation to, among other things, the development of Xiongan New District (雄安新區) in Hebei Province of the People’s Republic of China on a mutually beneficial basis. 

Tus-Holdings, with the support of Xiongan Management Committee and Xiongan Group, will actively participate in the establishment of technological innovation centres, science parks, technological innovation network and technological innovation services industry in Xiongan New District, with the goal of establishing Xiongan New District as a platform for transforming technological innovation into results and a platform for enterprise incubation. 

It is intended by the Parties that a change in the shareholding structure of Tus-Holdings by way of, among others, the transfer of existing shares in Tus-Holdings owned by Tsinghua Holdings to fund(s) owned by Xiongan Group and/or Xiongan Management Committee, and/or the capital injection into Tus-Holdings by fund(s) owned by Xiongan Group and/or Xiongan Management Committee, will be implemented so that the fund(s) owned by Xiongan Group and/or Xiongan Management Committee (on the one hand) and Tsinghua Holdings (on the other hand) will be the largest shareholders of Tus-Holdings with equal shareholding in Tus-Holdings. 

The Parties will also actively cooperate and coordinate with each other with respect to the introduction of other strategic investors based on the development strategies of Tus-Holdings.