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(Bloomberg) -- A consortium led by Alibaba Group Holding Ltd., has emerged as the frontrunner to take over Tsinghua Unigroup Co., a deal that could fetch more than 50 billion yuan ($7.8 billion) to help keep China's indebted chip champion afloat. Analysis: China's Would-Be Chip Darling Tsinghua Unigroup ... The chip firm missed a number of bond payment deadlines since November, and is failing to repay debt. China's Tsinghua Unigroup faces bankruptcy - Blocks and Files Tsinghua Unigroup held a creditors' meeting yesterday, exactly three months to the day when it began the restructuring process, to discuss how CNY108.2 billion (USD16.9 billion) worth of debts will be repaid, the firm said on its WeChat account. With its cutting-edge flash memory factory in Wuhan, Unigroup is one of the two crown jewels in President Xi Jinping's grand "Made in China 2025" plan. In the first half of 2020, Tsinghua Unigroup's net losses were around CNY4.5 billion, up 23 percent from a year ago, according to its earnings report. Tsinghua Unigroup Failure Tests China's Technical Ambition ... Tsinghua Unigroup Co., one of China's most strategically important technology companies, has seen the price of its dollar-denominated bonds sink as investors expressed fears over the chipmaker's financial health. Debt-Ridden Chinese Chipmaker Tsinghua Unigroup Is in ... Corporate News-Tsinghua Unigroup Tsinghua Unigroup was the most heavily subsidized local semiconductor manufacturer. On September 2nd, 2019, right before IC China 2019 opened in Shanghai, Yangtze Memory Technologies Co., Ltd. (YMTC) from Tsinghua Unigroup, announced that it has put its 64-layer 256Gb TLC 3D NAND flash memory① with Xtacking® architecture into mass production to meet market demands for SSD embedded storage and other mainstream storage devices. The bankrupt Tsinghua Unigroup is looking for a strategic investor or group to pump in ¥500 million ($77M) to its bank account as the first step in clearing its debts. The company claims it is the world's third-largest designer of commercially available mobile phone chips, and produces 20% of SIM cards in the global . Tsinghua Unigroup said in a statement on its social media account that its creditors had told the court that it cannot pay off its debts and that its .. News by Location China . Tsinghua Unigroup plans to announce that it would enter in-court bankruptcy proceedings after Tsinghua University completes celebrating its 110th anniversary, said two sources familiar with the matter. Politicians responsible for these plans do not want these investments to be wasted. The Chinese central government is leaning towards the Alibaba-led offer given the e-commerce giant's financial heft and the potential synergies with its own . Tsinghua Unigroup says working with seven strategic investors in restructuring The announcement comes as the company, which is 51% owned by China's Tsinghua University, seeks a safety net . 1 Intermediate People's Court for reorganisation. That firm also once counted the son of former Chinese President Hu Jintao as its party secretary — a politically key role to facilitate communications with the Chinese Communist Party. . This continues the record of Tsinghua Unigroup's chips winning this award for many . Tsinghua Unigroup Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Alibaba's interest makes some sense. By newsuwc. Alibaba-Led Group Nears $8 Billion Unigroup Takeover. A consortium led by e-commerce giant Alibaba will meet the bill. An arm of China's Tsinghua Unigroup Ltd. agreed to pay $3.78 billion for a 15% stake in disk drive maker Western Digital, the latest sign of overseas ambitions for the government-controlled . A consortium led by Alibaba Group has emerged as the front-runner to take over Tsinghua Unigroup, a deal that could fetch more than 50bn yuan ($7.8bn) to help keep China's indebted semiconductor . Tsinghua Unigroup is a Chinese chipmaker, which recently held a creditors' meeting exactly three months to the day when it began the restructuring process, to discuss how CNY108.2 billion (USD16.9 . SHANGHAI (Reuters) - Tsinghua Unigroup, a major government-backed player in China's technology race, has defaulted on a 1.3-billion-yuan ($197.96 million) bond, three sources said, as several high . Company profile page for Tsinghua Unigroup Co Ltd including stock price, company news, press releases, executives, board members, and contact information The Tsinghua Unigroup bond in question was backed by a so-called keepwell guarantee, whose enforceability has been a question mark in the past.Last month, a Shanghai court recognised a 2018 verdict by a Hong Kong court in a €29 million (US$35 million) bond dispute, bringing further clarity to foreign investors about those guarantees. Chinese chip conglomerate Tsinghua Unigroup is working with seven strategic investors as it continues its restructuring, the company wrote on its official WeChat account on Monday. Tsinghua's total liabilities exceed ¥200 billion ($30.8B), according to a statement it posted on China's National Enterprise Bankruptcy Information Disclosure Platform (NEBIDP) web site. Their most recent investment was on Sep 22, 2020, when WM Motor raised CN¥10B. It's the closest thing China's got to South Korea's high-tech conglomerate Samsung Group. Tsinghua Unigroup did not reveal the names of its potential new investors in the statement. The move comes after reports that . Tsinghua Unigroup, a technology conglomerate affiliated with China's top university, is moving closer to bankruptcy restructuring after years of debt-fuelled acquisitions in the semiconductor industry, kicking off a potential scramble for its assets by creditors and other interested parties. Tsinghua Unigroup's bid for Micron, which failed, started a string of actions by U.S. regulators to temper China's ability to buy sensitive technology companies outright. Tsinghua Unigroup is China's leading chipmaker majority-owned by the prestigious Tsinghua University. Dr. Sun Shih-Wei Appointed as the General Manager and CEO of Wuhan Xinxin Semiconductor Manufacturing Co., Ltd. 08/28/2019. Text. Unigroup, saddled with more than 200 billion yuan (US$30.8 billion) in total liabilities, is looking for a white knight with . Tsinghua Unigroup has made 3 investments. Bankrupt Tsinghua Unigroup advertises for investors. China's state-backed chip manufacturer Tsinghua Unigroup is staring bankruptcy in the face. Financial Report of Unigroup Guoxin Micro 2018: Revenue up to 2.458 Billion Yuan, a Year-on-Year Rise of 34.41%, with Performance and Industrial Scale to a New High. Debt-ridden Tsinghua Unigroup, the former high-flying technology conglomerate affiliated with China's top university, is seeking a massive bailout from deep-pocketed investors amid bankruptcy . SHANGHAI, July 9 (Reuters) - China's Tsinghua Unigroup said on Friday that it had received a notice from a Beijing court saying that its creditors have called for a restructuring of the indebted chip conglomerate. Best known for an unsuccessful $23 billion bid for U.S. chipmaker Micron Technology Inc in 2015, Unigroup in November shocked investors with a . FILE PHOTO: The logo of Tsinghua Unigroup is seen in its office in Beijing, China, November 15, 2015. (SZ: 002049) is a core listed subsidiary of Tsinghua Unigroup as well as one of the largest listed Integrated circuit design companies in . Tsinghua Unigroup has denied it is licensing flash IP from SK Hynix as was reported in December, but is developing its own 3D NAND tech. The university's anniversary celebration this year features two-week events that conclude on April 25, according to its website. UNISOC's 5G baseband chip IVY510, which made its official debut at a domestic exhibition, won the "CITE Gold Award" issued by expo. However, this does not change the fact that the production of chips will be disrupted for the duration of the company's process of declaring bankruptcy. SHANGHAI (Reuters) - Tsinghua Unigroup, a Chinese conglomerate that has long sought to become a semiconductor powerhouse, is now caught between a rock and a hard place as debt woes mount while key . A creditor for Tsinghua Unigroup has asked a court to begin bankruptcy proceedings for the Chinese semiconductor company. China's semi-conductor supply giant Tsinghua Unigroup Co., said on Friday that one of its creditors has asked a court to begin bankruptcy proceedings for the group. 1. UNISOC 8910DM is the world's first IoT wide area chip platform that is compliant with Cat.1bis. It is reported that it is considering an acquisition of RMB 50 billion ($ 7.8 billion). The Wuhan municipal government has taken over the company, which has applied to the Beijing No. State-backed Tsinghua Unigroup — the parent company of many chipmakers, including China's No. The development at Tsinghua Unigroup, which is 51% owned by China's Tsinghua University and led by former real estate mogul Zhao . Two Shenzhen-listed subsidiaries, information technology infrastructure provider Unisplendour Corp . It was an early stage . A consortium led by multinational tech giant Alibaba Group Holding BABA, -7.59% could be set to take over debt-ridden Chinese chipmaker, Tsinghua Unigroup, in a deal worth over 50 billion yuan ($7 . Tsinghua Unigroup Unveils 5G, Storage and IoT Products at CITE2019, Winning Gold Awards. Tsinghua Unigroup has raised a total of CN¥150B in funding over 1 round. Tsinghua Unigroup's debt had been selling at a discount . Address: Building B, Truth Plaza, No.7 Zhichun Rd, Haidian District, Beijing, China . Debt-ridden Tsinghua Unigroup, the former high-flying technology conglomerate affiliated with China's top university, is seeking a massive bailout from deep-pocketed investors amid bankruptcy proceedings that could force the company to divest its semiconductor assets. SHANGHAI, Oct 18 (Reuters) - Chinese chip conglomerate Tsinghua Unigroup is working with seven strategic investors as it continues its restructuring, the company wrote on its official WeChat account on . Bankrupt Tsinghua Unigroup is looking for investors to bail it out. ChipMOS TECHNOLOGIES INC. (listed on the Taiwan Stock Exchange under Stock Ticker 8150 and on the NASDAQ under Stock Ticker IMOS; hereinafter "ChipMOS Taiwan" or "ChipMOS") and Tsinghua Unigroup Ltd. ("Tsinghua Unigroup") today announced an agreement to form a joint-venture and to mutually terminate Tsinghua Unigroup's earlier private placement plan. TAIPEI/HONG KONG — Embattled Chinese tech flagship Tsinghua Unigroup confirmed Friday that one of its creditors has asked a court to begin bankruptcy proceedings for the group, in the latest setback to China's goal of building a self-reliant semiconductor industry. A compensation plan is expected to be ready by Feb. 27 next year for creditors to vote on . Tsinghua Unigroup, a Chinese conglomerate that has long sought to become a semiconductor powerhouse, is now caught between a rock and a hard place as debt woes mount while key chip units are failing to thrive, sources with knowledge of the matter said. A consortium led by Alibaba Group Holding Ltd., has emerged as the frontrunner to take over Tsinghua Unigroup Co., a deal that could fetch more than 50 billion yuan (US$7.8 billion) to help keep China's indebted chip champion afloat. Tsinghua Unigroup is the owner of numerous Chinese semiconductor companies, including YMTC, the country's only 3D NAND maker, and Unisoc, a mobile SoC designer. Tsinghua Unigroup is the owner of numerous Chinese semiconductor companies, including YMTC, the country's only 3D NAND maker, and Unisoc, a mobile SoC designer. BEIJING — Chinese tech heavyweight Alibaba Group Holding is reportedly on the shortlist of potential white knights that would bail out embattled domestic chipmaker Tsinghua Unigroup, which once stood at the forefront of China's semiconductor ambitions. October 18, 2021 (Adds background) By Josh Horwitz. The Yonhap News Agency and Korea Herald said the Chinese outfit's Tsinghua Unisplendour division was looking at using SK Hynix IP to progress beyond the 64GB, 32-layer 3D NAND chip technology it is preparing . Tsinghua Unigroup reportedly confirmed that one of its creditors has asked a court to begin bankruptcy proceedings. It […] Tsinghua Unigroup Co., a deal that could fetch more than 50 billion yuan ($7.8 billion) to help keep China's indebted chip champion afloat. Corporate News. Tsinghua Unigroup Co. Ltd., the former chip highflyer whose past and current business partners include global tech giants Intel and Hewlett Packard, has been forced into restructuring under China's bankruptcy law, kicking off a process that could pave the way for the introduction of strategic investors like Alibaba. Tsinghua Unigroup Blogs, Comments and Archive News on Economictimes.com It has debts of $30.8 billion. Tsinghua Unigroup is a semiconductor holding company rather than a well-known innovator, and real estate tycoon leader Zhao Weigu has spent billions of dollars to acquire some of the country's most promising microchip companies, eventually It has become one of the largest companies in China and has grown rapidly over the last 6 years. BEIJING, November 15, 2019 - Today, Tsinghua Unigroup Co., LTD ("Unigroup"), a leading semiconductor, digital infrastructure and services group, announced the appointment of Yukio Sakamoto as Senior Vice President of Unigroup and CEO of its subsidiary in Japan. Editor: Emmi Laine, Xiao Yi Embattled Chinese tech flagship Tsinghua Unigroup confirmed Friday that one of its creditors has asked a court to begin bankruptcy proceedings for the group, in the . Alibaba Group Holding Ltd 11,730.00p Its Hong Kong-traded $750 million bonds due in 2023 plunged to as low as 75 cents on the dollar earlier this month, before recovering 0.8 cents in the morning of the next trading day. (Bloomberg) -- A consortium led by Alibaba . The $7.8 billion deal for Tsinghua Unigroup is not so rich either. Refinitiv reports that by the start of the year it had either defaulted or had cross-defaults triggered on seven onshore . Update: Action to add YMTC to USA Entity list noted; 13 July 2021. BEIJING—China's state-owned Tsinghua Unigroup Ltd. plans to spend more than $2 billion to buy stakes in two Taiwanese chip-packaging companies . Wells Fargo senior analyst Aaron Rakers told subscribers […] Tsinghua Unigroup, a debt-stricken Chinese chip maker, needs a champion with deep pockets. Unit Guoxin Micro's stock price [SHE:002049] was 1.7 percent down at CNY167.40 (USD25.90) in the afternoon. The move comes after reports that . Tsinghua Unigroup, which had revenue last year of about 12.3 billion yuan, was also in talks about cooperating with a "world-class memory chip giant" to build a new chip factory in China, Zhao . The true cost can be much higher. The website of China's National Enterprise Bankruptcy Information Disclosure Platform is asking for investors saying that they must have $7.7 billion in minimum total assets or $3 billion in . REUTERS/Kim Kyung-Hoon/File Photo 18 Oct 2021 03:09PM (Updated: 19 Oct 2021 07:00AM) (Get Free Alerts for BABA) led consortium emerged as the frontrunner to take over Tsinghua Unigroup Co, fetching over 50 billion yuan ($7.8 billion) to help keep China's indebted chip . SHANGHAI: China's Tsinghua Unigroup said on Friday (Jul 9) that it had received a notice from a Beijing court saying that its creditors have called for a restructuring of the indebted chip . Chinese financial news magazine Caixin, citing sources, reported that Alibaba Group Holding, owner of . This was a Private Equity round raised on Mar 28, 2017. Unigroup was founded in 1993 by Beijing's elite Tsinghua University and has long considered itself a champion for China's tech sector, with the goal of becoming the world's third-biggest . Print. The company's cloud … 04/09/2019. The Chinese central government is leaning towards the . Corporate News. E-Mail：unigroup@unigroup.com.cn ©2019 Tsinghua Unigroup Co., Ltd. Tsinghua Unigroup is a subsidiary of a company controlled by China's prestigious Tsinghua University, the alma mater of President Xi Jinping. Oct 20, 2021 alibaba, chipmaker, emerges, rescue, shortlist, Tsinghua. On August 28, after Tsinghua Unigroup announced that Mr. Kau Chei-Chan had been appointed the CEO of its DRAM Business Unit, Wuhan Xinxin Semiconductor Manufacturing Co., Ltd (XMC) under Tsinghua Unigroup . The bankruptcy restructuring of Unigroup is aimed at finding strategic investors to assume the company's massive assets . A consortium led by Alibaba is the frontrunner to buy Tsinghua Unigroup in a deal to rescue the struggling semiconductor group, according to a report. Tsinghua Unigroup is funded by China Development Bank. Tsinghua Unigroup positioned itself as a key player in Chinese efforts to boost its chip sector, at one point trying to buy U.S. memory chip maker Micron Technology MU.O.. As of June 2020, it said . The default by Tsinghua Unigroup, a wholly-owned division of the prestigious Tsinghua University in Beijing, on Monday immediately triggered a . As China moves to reboot Tsinghua Unigroup Co. Ltd., a handful of companies including Alibaba Group and enterprises backed by the governments of Guangdong, Beijing and Wuxi have shown interest in bidding for the assets of the former semiconductor highflyer, Caixin learned.. Unigroup Guoxin Microelectronics Co.,Ltd. 2 mobile H3C, a leader in digital solutions, raised the curtain on its annual flagship event, NAVIGATE 2021, on April 9 in Nanjing, capital of east China's Jiangsu Province. The development at Tsinghua Unigroup, which is 51% owned by President Xi Jinping's alma mater Tsinghua University and led by former real estate mogul Zhao Weiguo, comes after its debts mounted following a string of . Asia, News Tsinghua Unigroup says working with seven strategic investors in restructuring. SHANGHAI (Reuters) - Tsinghua Unigroup, a major government-backed player in China's technology race, has defaulted on a 1.3-billion-yuan ($197.96 million) bond, three sources said, as several high . In a report from Nikkei Asia, it is said the group received a notice from the . A Beijing court has accepted a creditor's application seeking a . Zhao Weiguo, the company's CEO and also a Tsinghua alumnus, owns 34.3% of the company. BABA -8.29%. Tsinghua Unigroup, a major government-backed player in China's technology race, has defaulted on a 1.3-billion-yuan ($197.96 million) bond, three sources said, as several high-profile delinquencies by state firms rattled the country's bond market. Company profile page for Tsinghua Unigroup Co Ltd including stock price, company news, press releases, executives, board members, and contact information Updated Dec. 11, 2015 8:23 pm ET.

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