Shulou(Shulou.com)11/24 Report--

CTOnews.com, May 4, China Unicom announced on the Hong Kong Stock Exchange on May 4 that the company has applied and the Stock Exchange of Hong Kong Limited has agreed that the company can carry out the proposed spin-off in accordance with the 15th application guidelines of the rules governing the listing of securities on the Stock Exchange of Hong Kong Limited.

As far as the proposed spin-off is concerned, Unicom Zhao.com Technology Co., Ltd. (Zhao.com Technology) intends to issue new shares and list them on the Shanghai Stock Exchange Kechuang Board. The proposed spin-off is subject to the approval of China United Network Communications Co., Ltd., the controlling shareholder of the company, at the general meeting and the approval of the China Securities Regulatory Commission and the Shanghai Stock Exchange.

CTOnews.com note: Unicom Zhao.com Technology Co., Ltd. was founded in August 2015, is an investment subsidiary of China Unicom Group. According to the official website, Zhi.com Technology focuses on the automotive intelligent networking industry, fully carries China Unicom automotive information services and qualifications, and has solutions such as vehicle networking, service operation, intelligent transportation and so on. Cooperative enterprises include FAW, BMW, Dongfeng Nissan, Guangzhou Automobile and so on.

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