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ChinaScope is the financial data and analytics platform for global financial professionals seeking critical quantitative and qualitative information on China. Our platform covers raw and processed data and information on companies, industries and the macro economy. We help our clients gather and... More
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  • China Mobile To Become Largest Shareholder Of Anhui USTC IFlytek 0 comments
    Apr 24, 2013 5:23 AM | about stocks: CHL, CHLKF

    Prepared by ChinaScope Financial | Source:Company Disclosure

    • Anhui USTC iFlytek Co., Ltd. (002230: SHE) announced yesterday that it plans to raise approximately CNY 1.75 billion through a private placement of 90.4 million shares at a price of CNY 19.4 per share. Proceeds will be used to replenish the company's working capital.
    • Upon completion of the private placement, China Mobile Ltd. (00941: HKG; CHL: NYSE) will become the largest shareholder of the company by owning a 15 percent stake.
    • The financial report of Anhui USTC iFlytek Co., Ltd. shows that company revenue for 2012 increased 40.7 percent year-on-year (YoY) to CNY 784 million. Net profit attributable to common shareholders for 2012 was CNY 182 million, an increase of 37.5 percent on 2011.
    • Anhui USTC iFlytek Co., Ltd. is a software company that specializes in the research of intelligent voice and language technology, the development of software and chip products, and the provision of voice information services, among others.
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