DeHeng Advised Beijing United Information Technology

on Obtaining CSRC Approval for Non-public Issuance of A Shares

2020-09-23

On September 21, 2020, the application of Beijing United Information Technology Co., Ltd. for non-public offering of A shares was reviewed and approved by the Public Offering Review Committee of China Securities Regulatory Commission (CSRC). Beijing United Information Technology plans to privately issue no more than 61,254,525 shares to no more than 35 specific eligible investors, and raise no more than 2,466.0667 million yuan.  

Beijing United Information Technology (stock code: 603613.SH) is a leading B2B e-commerce and industrial Internet platform. Supported by industrial e-commerce and Internet big data, the company provides online trading, business information services and Internet-based technical services for industrial products and raw materials in related industries. It is committed to deeply integrating the Internet and the Internet of Things into traditional industries to help the latter reduce cost and increase efficiency.

After deducting the issuance costs, the money raised will be used for the construction of the company's digital economy headquarters, and the R&D of the AI-based big data production and analysis system, the Internet of things support system based on online freight and smart supply chain, and the cloud computing-based digital system integration and application platform. The projects to be funded all resolve around the company’s existing main business, align with national industrial policies and corporate strategic development vision, and have good market and economic prospects.

As the legal counsel for the non-public issuance, the DeHeng team was led by partners Xu Jianjun and Sun Yanli, with primary support from lawyers Ma Quan, Zhang Xiaotong and Di Shuang. They worked closely and actively with the issuer, China International Capital Corporation Limited and other parties, and provided comprehensive and professional legal services for obtaining the CSRC approval. In the future, DeHeng will continue to provide professional legal services for the client in the capital market.