On January 25, 2022, Yonyou Network Technology Co. Ltd. announced to disclose the report on the non-public issuance of A Shares. It has successfully raised 5.3 billion yuan through a non-public offering and attracted several well-known investment institutions, including GIC (Government of Singapore Investment Corporation), Hillhouse Capital (HHLR), Gao Yi Capital, China Huarong Assets and other well-known investment institutions, etc. All funds will be used for the development of YonBIP and other projects.
GIC Private Limited is one of the three major investment entities managing government reserves in Singapore, with assets under management of over US$100 billion. GIC is the largest investment institution in Singapore, and the late Prime Minister of Singapore, Mr. Lee Kuan Yew, was the Chairman of the Board of Directors of GIC. As an institutional investor with a long-term value investment philosophy, GIC has participated in private placement projects such as Lens Technology Co. Ltd (300433) and Weichai Power Co. Ltd (000338), and its participation in this private placement project is also a long-term optimism for the future development of Yonyou.
Hillhouse Capital is an investment company focusing on long-term structural value investment and is one of the largest investment funds in Asia in terms of asset management. The largest allotment of shares was made to HHLR Management Limited, with 31.23 million shares and 1 billion yuan, which is a qualified foreign institutional investor of Hillhouse Capital. This investment is another significant step for Hillhouse Capital to lay out the development track of digital intelligence.
In addition to GIC and HHLR, the participants of Yonyou in this private placement also include public funds such as E Fund and Wanjia Fund, as well as well-known institutions such as Gao Yi Capital, Huarong Assets. The diversified structure of capital market investment institutions and the joint participation of new and old shareholders fully indicate that Yonyou’s cloud transformation strategy and long-term investment value have been unanimously recognized and favoured by new and old shareholders of Yonyou.
