NSING TECH (02701.HK): Plans RMB 60 million investment in Nanjing UCUN Technology at RMB 590 million pre-money valuation for 8.33% stake
NewTimeSpace News: On 1 September 2026, Nationstech (National Technologies) Inc. (stock code: 02701) announced its plan to invest RMB 60 million of the H-share "strategic investment and acquisition" proceeds in Nanjing UCUN Technology Inc. (UCUN), subscribing for approximately RMB 496,196 of new registered capital at a pre-money valuation of RMB 590 million, representing an 8.3333% equity interest in the target company after the investment, with the excess of the investment amount over the new registered capital credited to the target company's capital reserve. Following the investment, UCUN will become an associate of the Company and will not be consolidated into the Company's financial statements.
The announcement stated that the investment was reviewed and approved by all directors at the 23rd meeting of the Sixth Board of Directors held on 1 September 2026 (7 votes in favor, 0 against, 0 abstentions). The investment does not require shareholders' meeting approval, does not constitute a connected transaction, and does not constitute a major asset restructuring. In addition to the Company, other investors are participating in this round of financing of the target company, with aggregate new registered capital of approximately RMB 1,075,092, bringing the registered capital to RMB 5,954,349 upon completion.
Founded in May 2018, UCUN is principally engaged in the design, development, production and sale of electronic technology products. As of 30 June 2026, its unaudited total assets were RMB 152,978,100, with revenue of RMB 82,989,300 and net profit of RMB 13,610,400 for the first half of 2026. The Company stated that the investment aims to consolidate its advantages in embedded storage MCU technology and further strengthen its customized NOR Flash external storage MCU capabilities, and that the funds will come from the H-share proceeds, with no adverse impact on the Company's financial position or operating results.
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