DeHeng Advised Yunnan Nantian Electronics Information Co., Ltd. on

Unconditional Approval of Application for Private Placement by CSRC

2019-12-27

Yunnan Nantian Electronics Information Co., Ltd. (abbreviation: Nantian Information, stock code: 000948) obtained an unconditional approval from the issuance examination commission of China Securities Regulatory Commission (CSRC) for its application for private placement on December 27, 2019. 

Nantian Information was listed on the Shenzhen Stock Exchange on October 14, 1999. Headquartered in Kunming and Beijing, Nantian Information has wholly-owned or holding subsidiaries in Beijing, Shanghai, Guangzhou, Shenzhen, Kunming, Xi'an, Chengdu, Wuhan, Hefei, etc. It has over 120 service outlets throughout the whole country. As a professional digital service provider, Nantian Information has over 30 years of experience in the construction of IT engineering in the financial sector and some key industries in China. It has five major business sectors: software business, integrated service business, product service business, smart city business, and innovation business. Nantian Information offers cloud business and data intelligence business, and develops smart Party building and smart education business, providing customers with "one-stop" digital services during the entire life cycle of IT engineering construction.

The total amount of funding raised by Nantian Information through this private placement, which is no more than RMB 650 million yuan, will be used for smart cloud platform projects in the financial sector, and the remaining fund will be used to replenish working capital. This fundraising project aims to empower customers' digital transformation and business development and facilitate the transformation and upgrading of China's financial sector. It is also an important measure for Nantian Information to implement business development strategy based on the current external environment of the software service sector, coupled with the company's development stage and business foundation. Nantian Information will further boost its brand influence and market share through this issuance, thereby enhancing its comprehensive competitiveness.

DeHeng is involved in this private placement as a special legal counsel. During nearly one year from the beginning of the project to the approval by China Securities Regulatory Commission, the project team composed of Kunming office director Wu Zhixu and lawyers Yang Jiequn, Liu Shuhan, Yang Min and Geng Chunli provided legal services for this project. According to the overall arrangement for this issuance, the project team participated in the coordination meetings convened by the company and the sponsor many times, actively studied and resolved legal obstacles in the process of issuance, and visited the company's production and operation departments to learn about the company's actual operations. The team issued several legal opinions, verification opinions for special issues and lawyer memorandums for this project. The lawyers are unanimously praised by the clients for their diligent and rigorous attitude to work and a sense of responsibility.