Wangsu Science & Technology (300017.SZ) announced that the company's holding subsidiary Cloudsway Pte.Ltd...
According to the Zhito Finance APP, Wangsu Science & Technology (300017.SZ) announced that the company's holding subsidiary Cloudsway Pte.Ltd. (referred to as "Cloudsway") plans to issue 0.6169 million new shares to Megaverse Limited (referred to as "Megaverse") and its core employees, where Megaverse intends to subscribe for 0.4685 million shares and Cloudsway's core employees intend to subscribe for 0.1484 million shares. Specifically:
Megaverse is a company 100% owned by Mr. Li Boyang, the deputy general manager of the company. Mr. Li Boyang will contribute RMB 27.24 million in cash to increase the capital of Shanghai Xiaosu Technology Co., Ltd. (referred to as "Xiaosu Technology"), acquiring 22.63% equity of Xiaosu Technology, and at the same time transfer the Xiaosu Technology equity obtained from this capital increase to Cloudsway's wholly-owned subsidiary Shanghai Duoyunlu Technology Co., Ltd. (referred to as "Duoyunlu"), with Duoyunlu enjoying the rights corresponding to the 22.63% equity of Xiaosu Technology obtained from this capital increase; Cloudsway will issue 0.4685 million new shares to Megaverse according to the amount of the Xiaosu Technology equity transfer from Mr. Li Boyang to its wholly-owned subsidiary Duoyunlu, which is RMB 27.24 million. Cloudsway's core employees will contribute 1.2 million dollars in cash to subscribe for the 0.1484 million shares newly issued by Cloudsway.
The announcement stated that this issuance of shares by Cloudsway to the company's management and core employees aligns with the overall planning of the company for the development of its new business subsidiaries. By having the core team hold shares, it helps to motivate the management team and core employees, allowing for quick responses to market demands and promoting long-term development of new businesses through product innovation and service upgrades.