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hengtong optic-electric co-a (600487) Details

Hengtong Optic-Electric Co., Ltd. operates in fiber optic communications industry in China and internationally. It offers fiber optic network, quantum security communication, and ocean observation network products; power transmission products; smart ocean system solutions; rail transit solutions; smart city solutions; and big data systems. The company was founded in 1993 and is based in Suzhou, China.

17,311 Employees
Last Reported Date: 04/29/19
Founded in 1993

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Executives, Board Directors

hengtong optic-electric co-a
China Unicom Yunnan Sign Cooperation Agreement in Relation to Comprehensive Reform Under the Double-Hundred Action with Partners

Reference is made to the announcement of China Unicom (Hong Kong) Limited (the Company) dated 28 October 2018 (the Announcement) in relation to the open recruitment of contract-out operational partners for China Unicom Yunnan through CUCL, a wholly-owned subsidiary of the Company. On 17 May 2019, China Unicom Yunnan entered into the Cooperation Agreement in Relation to Comprehensive Reform Under the Double-hundred Action of Yunnan Branch of China United Network Communications Corporation Limited (the Cooperation Agreement) with Hengtong Optic-Electric Co., Ltd. (Hengtong), Ningbo Akin Electronic Technology Co., Ltd. (Akin) and Beijing Ichinae Science & Technology Co., Ltd. (Ichinae) (Hengtong, Akin and Ichinae are hereinafter collectively referred to as the Partners, and individually as a Partner), relating to, among others, investment in the construction of access network assets of China Unicom Yunnan, establishment of a provincial operating company and innovative business platform, and cooperation in relation to contract-out of China Unicom Yunnan's operations. The cooperation under the Cooperation Agreement mainly involves: Investment in the construction of access network assets: The Partners will invest in the construction of access network assets in 16 prefectures and cities in Yunnan Province during the cooperation period. Establishment of Yunnan provincial operating company and innovative business platform: CUCL or its designated investment entity will, together with the Partners or their respective wholly owned subsidiaries, make capital contribution to establish Yunnan provincial operating company. The establishment of the Yunnan provincial operating company does not constitute a discloseable transaction of the Company under Chapter 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Partners will establish an innovative business platform with the Yunnan provincial operating company, tentatively in the form of a limited partnership, which shall be responsible for the investment in and establishment of the provincial innovative business platform, the internal incubation of, and the external equity investment for, the innovative business. Cooperation in relation to contract-out of operations: China Unicom Yunnan will carry out comprehensive cooperation with the Partners within the scope of business as stipulated in its business licences and within the scope that China Unicom has entrusted China Unicom Yunnan to conduct business (the Scope of Contracted Business), which includes the following: At Yunnan provincial level: China Unicom Yunnan will enter into an entrusted contract-out operation agreement with the Yunnan provincial operating company under which (A) China Unicom Yunnan shall authorise the Yunnan provincial operating company to conduct business in the name of China Unicom Yunnan within the Scope of Contracted Business and to manage some of the assets of China Unicom Yunnan; and (B) the Yunnan provincial operating company shall be accountable to the operating profit of China Unicom Yunnan, and the Yunnan provincial operating company shall make up to China Unicom Yunnan for any shortfall below the profit targets and shall be entitled to any portion in excess of the profit targets. At the prefectural and city level of Yunnan Province: During the period of cooperation, China Unicom Yunnan will enter into entrusted contract-out operation agreements with the operating companies controlled by the Partners respectively at the prefectural and city level (the Operating Companies at the Prefectural and City Level) under which (A) China Unicom Yunnan will cooperate with the Partners in accordance with the geographical division determined in the shortlisting process and shall authorise the Operating Companies at the Prefectural and City Level to conduct business in the name of the branch companies of China Unicom Yunnan at the prefectural and city level at their relevant prefectures and cities within the Scope of Contracted Business; and (B) the Operating Companies at the Prefectural and City Level shall be accountable to the operating profit of their respective prefecture or city, and the Operating Companies at the Prefectural and City Level together with their respective controlling Partners shall make up to China Unicom Yunnan for any shortfall below the profit targets and the Operating Companies at the Prefectural and City Level or their respective controlling Partners shall be entitled to any portion in excess of the profit targets. The Cooperation Agreement shall be valid for a term of ten years and shall become effective after all parties have completed their respective internal approval or authorisation procedures and have also signed and sealed on the Cooperation Agreement.

China Unicom Yunnan Entered into the Cooperation Agreement with Hengtong Optic-Electric Co., Ltd, Ningbo Akin Electronic Technology Co.,Ltd, and Beijing Ichinae Science & Technology Co., Ltd

On 17 May 2019, China Unicom Yunnan entered into the Cooperation Agreement in Relation to Comprehensive Reform Under the "Double-hundred Action" of Yunnan Branch of China United Network Communications Corporation Limited (the "Cooperation Agreement") with Hengtong Optic- Electric Co., Ltd. ("Hengtong"), Ningbo Akin Electronic Technology Co., Ltd. ("Akin") and Beijing Ichinae Science & Technology Co., Ltd. ("Ichinae") (Hengtong, Akin and Ichinae are hereinafter collectively referred to as the "Partners", and individually as a "Partner"), relating to, among others, investment in the construction of access network assets of China Unicom Yunnan, establishment of a provincial operating company and innovative business platform, and cooperation in relation to contract-out of China Unicom Yunnan's operations. The cooperation under the Cooperation Agreement mainly involves: Investment in the construction of access network assets. The Partners will invest in the construction of access network assets in 16 prefectures and cities in Yunnan Province during the cooperation period. Establishment of Yunnan provincial operating company and innovative business platform: CUCL or its designated investment entity will, together with the Partners or their respective wholly owned subsidiaries, make capital contribution to establish Yunnan provincial operating company. The establishment of the Yunnan provincial operating company does not constitute a discloseable transaction of the Company under Chapter 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Partners will establish an innovative business platform with the Yunnan provincial operating company, tentatively in the form of a limited partnership, which shall be responsible for the investment in and establishment of the provincial innovative business platform, the internal incubation of, and the external equity investment for, the innovative business.

Hengtong Optic-electric Co., Ltd., Board Meeting, May 14, 2019

Hengtong Optic-electric Co., Ltd., Board Meeting, May 14, 2019. Agenda: To discuss and approve the proposal of the Scheme of Repurchasing Shares by Means of Auction Trading; to proposal of Requesting Shareholders' Meeting to Specifically Authorize Directorate to Handle Relevant Issues of Repurchasing Shares; and to discuss the proposal of "Requesting to Convene 1st Special Shareholders' Meeting of 2019.

 

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Valuation 600487 Industry Range
Price/Earnings 12.2x
Price/Sales 0.9x
Price/Book 2.3x
Price/Cash Flow 12.2x
TEV/Sales 0.3x
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