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Bauing Group released the Announcement on Equity Investment in Shenzhen Innocaconn Systems Co., Ltd. on Mar. 4. As per the announcement, Bauing Group will sign an investment agreement with Shenzhen Innocaconn Systems Co., Ltd. and its stockholders on Mar. 4, 2016. According to the agreement, Bauing shall increase the capital of Shenzhen Innocaconn Systems with RMB 100 million, RMB 25 million of which shall be credited to Party B’s registered capital, and RMB 75 million of which credited to Party B’s capital reserve. After the transaction, Bauing will hold 20% stock rights of Shenzhen Innocaconn Systems Co., Ltd.

According to the announcement: the objectives of the transaction are:

(1)  to promote the company ’ s business transformation and upgrading and create new growth points through the transaction. To combine with the strategy established by the state with respect to developing smart cities, give full play to the company ’ s advantages in aspects of business accumulation and resources of integrated intelligent design and construction, make use of the subject company ’ s construction strength in the domain of smart cities, and promote the company ’ s business expansion and development to strategic depth.

(2)  Make full use of the advantages and resources of Shenzhen Innocaconn Systems Co., Ltd. in the aspect of smart cities, deeply propel the further execution of “One Belt and One Road” strategy, combine with the subject company’s experience about smart city construction, and expand smart city construction to countries along “One Belt and One Road”. 

(3)After investing in Wuhan Syscan to develop information industry, the company will continue to explore information safety industry vigorously through the transaction, and form a perfecting information industrial chain, so to cultivate new points of profit growth in favor of the company. 

(4)The transaction will lay a soft and hard foundation for the company’s continuously implementing “Internet+” strategy and developing high-tech industries, promoting technical research and development power and enriching talent tank reserve. 

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