On the evening of July 13, Meituan announced that all the conditions precedent to the Tencent Subscription contained in the Tencent Subscription Agreement have been fulfilled. Accordingly, the Tencent Subscription was completed on 13 July 2021. After the Tencent Subscription is completed, Meituan has allotted and issued 11.353 million shares to Tencent, equivalent to 0.2% of the issued share capital expanded by Meituan through the issuance of Tencent's subscription shares.
According to the announcement, the estimated net proceeds from the Tencent Subscription are expected to be approximately US$400 million, and therefore, the estimated net Tencent Subscription Price is approximately HK$273.78 per share. Meituan intends to use the estimated net proceeds from the Tencent Subscription for technological innovation, including research and development in cutting-edge technology fields such as unmanned vehicles and drone delivery, and general corporate purposes.
After the completion of the subscription, Tencent's Class B shares increased from about 1.043 billion shares to 1.054 billion shares, and its shareholding ratio also increased from 17% to 17.2%.
In the past year or two, Meituan has gradually increased its investment in upstream technology. Nandu has previously reported that Meituan drones were also unveiled at the World Artificial Intelligence Conference held not long ago. As of June 2021, Meituan drones have completed more than 200,000 flight tests and delivered more than 2,500 real orders. Mao Yian, the head of Meituan's drone business, said at the time that it is expected that large-scale commercial use of drones will be achieved in the next 5-10 years.
During Guangzhou’s anti-epidemic period in May this year, Meituan sent the latest generation of unmanned delivery vehicles to Guangzhou, which are equipped with L4 Level unmanned capability, with a loading capacity of 150kg and a volume of nearly 540L. During the epidemic, we entered the closure and control management area many times to assist in the distribution of materials.
In addition, Meituan's affiliated company Kuxun Technology and Meituan Industrial Fund Meituan Longzhu recently participated in the latest round of financing of AI chip company Aixin Technology, which already has independently developed chips. mass production.
According to incomplete statistics, Meituan has invested in Mamozhixing, Mecamand, Purdue Technology, Hesai Technology, Aixin Technology and other companies in 2021, covering intelligent driving, robotics, semiconductors, etc. and many other fields.
Written by: Southern Metropolis reporter Xu Bingqian intern Yu Dian
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