Update: UniStrong to Invest RMB 140 Mln in Beidou Project

Shenzhen Stock Exchanges, 1/22/13

In a January 22 filing, Beijing-based satellite navigation company Beijing UniStrong Science & Technology (002383.SZ) announced that its public Beijing Beidou navigation and positioning service industry platform project had been approved by the Beijing municipal government, along with plans for a joint-venture company with RMB 300 mln in registered capital to oversee the project. UniStrong will invest RMB 140.5 mln for a 46.83% share of the JV. The Beijing municipal government will also invest RMB 140.5 mln for 46.83% of the company, and the remaining 6.33% of the JV will be held by a consortium of five companies whose investment will total RMB 19 mln.

Editor's Note: For more background on this topic, please see "UniStrong to Invest RMB 184 Mln in Beidou Satellite Project" MD 11/03/12 issue.

Keywords: government support Beijing Municipal Government navigation satellite wireless Beidou Unistrong 002383.SZ

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