On November 10th, the website of the China Securities Regulatory Commission showed that China Unicom Intelligent Network Technology Co., Ltd. (referred to as Intelligent Network Technology) has launched IPO guidance. On November 4th, Zhiwang Technology signed a coaching agreement with China International Capital Corporation (CICC).
Zhiwang Technology was established in 2015 and is a holding subsidiary of China Unicom specializing in vehicle networking business. China Unicom directly holds 68.88% of the shares in Zhiwang Technology, and indirectly holds 0.33% of the shares through its wholly-owned subsidiary, Unicom Venture Capital, becoming the controlling shareholder of the company.
In October of this year, China Unicom also disclosed a suggestive announcement regarding its plan to spin off its subsidiary, Zhiwang Technology, and list it on the ChiNext board of the Shenzhen Stock Exchange.
The announcement shows that this spin off and listing will help promote the development of intelligent network technology innovation business, improve operational quality, and build competitiveness. By going public through a spin off, Zhiwang Technology can leverage the power of the capital market to accurately grasp strategic opportunities in the connected car industry, increase investment in key technology research and development, build specialized and innovative capabilities, cultivate new growth engines, continuously enhance market position and brand value, further consolidate the foundation of high-quality development, and achieve the goal of becoming better and stronger.
It is worth noting that as early as August 2021, China Unicom had planned to "spin off its subsidiary, China Unicom Smart Network Technology Co., Ltd., and list it on the A-share market"; In March 2023, China Unicom once again announced its intention to spin off its indirectly controlled subsidiary, China Unicom Smart Network, and list it on the Science and Technology Innovation Board, but it was terminated due to regulatory policy adjustments and other factors.
