According to the news on May 18, after the dispute between the board of directors of anmou Technology (China) Co., Ltd. (hereinafter referred to as anmou Technology) and Wu Xiong, the former chairman and CEO of anmou technology, over the company's internal control gradually subsided, today, Lianxin group issued a press release saying that its subordinate Lianxin fund has worked with anmou technology shareholder amber leading (Hong Kong) Limited, Anchuang growth equity investment partnership (limited partnership) in Ningbo Meishan free trade port area Arm ecosystem Holdings (Hong Kong) Limited and other Chinese shareholders reached an intention and signed a letter of intent to acquire 51% equity of anmou technology**
Lianxin fund will acquire 51% equity of anmou Technology
According to reports, Lianxin group is an enterprise focusing on technology investment in Dawan District, and Lianxin fund was specially established to acquire 51% equity of anmou technology**
After signing the letter of intent to acquire 51% equity of anmou technology, Lianxin fund will actively report to all stakeholders and seek approval.
A spokesman for Lianxin group said that the booming business of anmou technology is inseparable from the support of customers and all aspects, especially the global support of arm, which is also the result of the joint efforts of the team. Lianxin fund is honored to discuss this important project with all parties and make significant progress. All parties look forward to the successful completion of the transaction.
Statistics show that at present, 95% of chip systems designed in China, more than 90% of Internet of things chips and more than 80% of intelligent driving are based on ARM architecture. In 2021, the overall revenue of anmou technology increased by 250% year-on-year, and the self-developed IP business increased by 262% year-on-year. In 2021, the shipment of Chinese local customers' self-developed IP chips based on anmou technology exceeded 100 million, the number of domestic authorized customers of anmou technology exceeded 250, and the total number of members of the intelligent computing industry technology innovation consortium jointly launched by anmou technology and more than 50 enterprises and institutions exceeded 100.
A spokesman for Lianxin group said that anmou technology has excellent management team, excellent engineers, excellent customers and ecosystem, and has great market development potential in the future We look forward to completing due diligence as soon as possible for delivery, coordinating 51% of the Chinese equity, and working with relevant parties to ensure strategic stability, business stability and personnel stability, so as to better develop anmou technology and create enterprise value, shareholder value and industrial value
According to the press release, since its establishment, Lianxin group has actively participated in the construction and development of Guangdong, Hong Kong and Macao Bay area, paid great attention to the emerging paradigm of scientific and technological innovation, carried out a series of work around the disruptive technologies in the fields of new generation information technology, biotechnology, new energy, new materials and intelligent manufacturing, and actively explored new technologies, new industries, new formats and new models.
However, up to now, has not inquired the relevant industrial and commercial registration information of Lianxin group and Lianxin fund, and has not found the information about Lianxin group on the Internet . Only one investment company named "Lianxin financial management (Shenzhen) Co., Ltd." has a similar name, but it seems to have nothing to do with the "Lianxin group" in the press release.
It is speculated that Lianxin group and Lianxin fund may be new companies specially established to take over 51% equity of anmou technology**
As of press time, the email of xinzhixun to Lianxin fund and the email of the official PR director of arm have not received a reply.
Why did the former Chinese shareholders of anmou technology sell their shares
In order to comply with the trend of independent and controllable chips in China and better serve Chinese local customers, in May 2017, arm signed a memorandum of cooperation (MOU) with Houan fund, announcing that it plans to establish a joint venture (JV) in Shenzhen, China to accelerate arm's global strategy and support the further development of China's IC industry and its independent innovation.
Among them, arm will provide core intellectual property rights, technical support and training required for chip design. China will hold 51% of the joint venture, while arm will retain 49% of the equity. Subsequently, in April 2018, anmou China officially began operation, and Wu xiongang became the first chairman and CEO of anmou China.
However, in the end, under the operation of Wu xiongang, the shareholding proportion of arm decreased to 47.3285%. Tl1016 technology limited, a foreign executive team shareholding platform of anmou technology controlled by Wu xiongang, directly held 1.2% of the equity of anmou China. In addition, the Chinese executive team shareholding platform of anmou Technology controlled by Wu xiongang directly held 0.4715% of the equity of anmou technology. Amber leading, an entity controlled by Hopu investment, holds about 36.0009% of the equity of anmou China, and arm ecosystem Holdings (Hong Kong) Limited (arm Ecology) holds 1.6983%.
Wu xiongang also raised funds (allegedly a total of US $202 million) through his controlled investment fund and some other Chinese funded institutions to establish Anchuang growth equity investment partnership (limited partnership) in Ningbo Meishan free trade port area, and directly won 13.3008% shares of anmou technology.
According to the industrial and commercial information, Shenzhen Anchuang Technology Investment Management Co., Ltd., which is 100% controlled by Kosen information technology consulting (Shanghai) Co., Ltd. controlled by Wu xiongang, is the shareholder and executive partner of Anchuang growth equity investment partnership (limited partnership) in Ningbo Meishan free trade port area.
In addition, Shenzhen Anchuang Technology Investment Management Co., Ltd., 100% owned by Kosen information controlled by Wu xiongang, is also the shareholder and executive partner of anmou investment management partnership (limited partnership) in Ningbo Meishan free trade port area, which holds 0.4715% equity of anmou technology. In addition to tl1016 technology limited controlled by Wu xiongang, Wu xiongang actually indirectly controls 14.9723% of the equity of anmou technology.
However, according to previous reports by the financial times, when anmou technology was founded, the executives of the UK arm company were not aware of Wu xiongang's series of arrangements. In other words, Wu xiongang's operation may be illegal**
After the establishment of anmou technology, Wu xiongang invested in a series of arm customers through multiple domestic and foreign investment funds directly or indirectly controlled by him, including hengxuan technology, Aojie technology and torch core technology that have been listed through IPO, as well as BYD semiconductor and Deyi microelectronics.
In addition to Wu xiongang's personal investment fund's investment in arm customers and other behaviors mentioned above, Caixin cited some examples according to the information previously quoted by many informed persons, "It is believed that its (Wu xiongang) power is no longer constrained by shareholders. For example, without fully informing shareholders, it has reached external cooperation with arm brand, including the landing of arm Western R & D center and integrated circuit design center in Chengdu and the opening of arm open source artificial intelligence system R & D and Application Center in Nanjing. Previously, shareholders had made commitments to establish headquarters with Shenzhen Municipal Government for the landing of anmou technology, but Wu xiongang did not implement them."
In addition, according to a previous report by the financial times, Wu xiongang promised to offer discounts on relevant IP to anmou technology customers in exchange for these customers to inject capital into their private investment funds. At the same time, enterprises that are unwilling to accept the investment of their investment funds will face the dilemma of not giving IP authorization and not buying arm products.
Based on Wu xiongang's above behaviors, arm and Hopu investment believed that they harmed the interests of the company, held a board of directors in June 2020 and announced the dismissal of Wu xiongang's chairman and CEO of anmou technology.
Previously, the joint statement of arm company and Hopu investment said that the decision made by the board of directors of arm to dismiss Wu xiongang was "based on reports and complaints", and after investigation, it was found that "Wu xiongang's behavior endangers the development of anmou China and the interests of the company's shareholders and stakeholders".
Although Wu xiongang later refused to step down, controlled the official seal and relevant certificates of anmou technology, and continued to actually control anmou technology for nearly two years, the board of directors of anmou technology successfully changed the legal person of anmou technology at the end of April, appointed Liu Renchen and Chen Xun as the joint CEO of anmou technology, and subsequently activated the new business license and official seal of the company, Recently, it has successfully regained the actual control of anmou technology.
After the board of directors of anmou technology controlled by arm and Hopu investment successfully recaptured the actual control of anmou technology from Wu xiongang, the equity of anmou technology held by Wu xiongang through the investment fund directly or indirectly controlled by Wu xiongang naturally needs to be clarified and disposed accordingly.
The financial times previously reported that Wu xiongang had asked Softbank to buy out his stake in anmou technology at a price of up to $200 million, but Softbank refused.
However, according to the latest press release issued by Lianxin group, it seems that Anchuang growth equity investment partnership (limited partnership) in Ningbo Meishan free trade port controlled by Wu xiongang, amber leading (Hong Kong) limited controlled by Hopu and arm ecosystem Holdings (Hong Kong) Limited have reached equity transfer agreements with them.
If the equity transfer is finally completed, Lianxin fund under Lianxin group will eventually replace many previous Chinese shareholders and become a single Chinese shareholder of anmou Technology (although it is not found whether the equity structure of Lianxin group is controlled by Chinese capital, but the new CEO of anmou technology has promised that anmou China will not change as an independent company controlled by Chinese investors), holding 51% equity of anmou technology, Form a complete holding of anmou technology. This avoids the possible problem that China could not actually form absolute control over anmou technology because Chinese shareholders withdrew from the concerted action agreement due to different opinions.