Changjiang Storage issued a statement: normal operation, not directly affected by the bankruptcy and reorganization of Tsinghua Unigroup

IT House July 16 News Today, YMTC issued a statement on the issue of “Tsinghua Unigroup was filed for bankruptcy and reorganization by creditors”, saying that Tsinghua Unigroup is one of the company’s investment shareholders, and YMTC has an independent governance structure and has always maintained independent operations. .

Changjiang Storage said that at present, the management team of Changjiang Storage is stable, operates normally and has sufficient capital reserves. The operating activities of YMTC will not be directly affected by the judicial process of the bankruptcy and reorganization of Tsinghua Unigroup.

IT House learned that Yangtze Memory Technology Co., Ltd. was established in July 2016 and is headquartered in Wuhan. It is an IDM integrated circuit enterprise focusing on the integration of 3D NAND flash memory design and manufacturing, and also provides complete memory solutions.

Previously, Ziguang Group announced on July 9 that it received the “Notice” served by the Beijing No. 1 Intermediate People’s Court. The main content is: The relevant creditors believe that Ziguang Group cannot pay off the debts due and the assets are not enough to pay off all the debts. And obviously lack of solvency, with the reorganization value and feasibility of reorganization, apply to the court for bankruptcy reorganization of Tsinghua Unigroup. Tsinghua Unigroup will fully cooperate with the court in judicial review in accordance with the law, actively promote the resolution of debt risks, and support the court in safeguarding the legitimate rights and interests of creditors in accordance with the law.

Ziguang Group includes core subsidiaries such as Ziguang Co., Ltd., Ziguang Guowei, and Ziguang University. On July 12, Ziguang Guowei Group stated on the investor interaction platform that Ziguang Group’s application for reorganization by creditors did not directly affect the company’s daily production and operation. At present, the company’s various production and operation activities are carried out normally.

On July 13, Ziguang Zhanrui issued a statement saying that the announcement has not yet been found to have a direct impact on Zhanrui’s current production and operation activities. Tsinghua Unigroup is one of Zhanrui’s shareholders, holding 35.23% of the shares. Zhanrui is an enterprise legal person operating independently according to law. Since Zhanrui established a new management team in early 2019, there is no overlapping of management teams and business with Ziguang Group, and Ziguang Group does not directly participate in Zhanrui’s business operations and decision-making.

The Links:   MG25J2YS40 6DI20C-050

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