By Sijia Jiang 在思嘉江
HONG KONG - Huawei<\/a> Technologies Co Ltd plans to sell its undersea telecom cable business, showed a buyer's filing on Monday, in its first major asset sale since the United States ratcheted up accusations of the Chinese firm being a vehicle for espionage.
Hengtong Optic-Electric Co Ltd, an optical telecommunication network products company based in Jiangsu province, said in the filing to the Shanghai Stock Exchange that it signed a letter of intent with Huawei Technologies subsidiary Huawei Tech Investment Co Ltd on May 31 to buy its 51% stake in Huawei Marine Systems Co Ltd via cash and share issuance.
The filing did not disclose a price.
Huawei Technologies declined to provide immediate comment when contacted by Reuters. The potential sale comes as Huawei's main business of making and selling telecom network equipment and smartphones is under intense global scrutiny as the United States works to persuade allies that Huawei's products pose a security risk.
Huawei has said it would not cooperate with any Chinese state request to access its systems for intelligence purposes. Even so, the U.S. Commerce Department imposed a trade ban last month that threatens to significantly disrupt its supply chain.
In March, The Wall Street Journal cited U.S. security officials as saying the suspected security risk extended to undersea cables built by Huawei Marine.
Undersea cables are the backbone of global internet traffic. Huawei has been gaining share in the market dominated by U.S. firm SubCom, Japan's NEC Corp and Europe's Alcatel-Lucent, since Huawei Marine was established in 2008 as a joint venture with Britain's Global Marine.
Huawei Marine has participated in 90 projects worldwide and built 50,361 kilometres (31,293 miles) of cables, its website showed, including a 6,000 km cable connecting Africa and South America for the first time completed in September last year.
It booked 2018 net profit of 115 million yuan ($16.66 million) on revenue of 394 million yuan, according to Huawei Technologies' annual report.
The annual report also showed Huawei Technologies gained majority voting rights on Huawei Marine's board in August 2018, with Global Marine retaining a 49% non-controlling interest.
Global Marine did not immediately respond to an emailed request for comment on Monday, and calls to its Asia-Pacific office in Singapore were not answered.
According to exchange filings, Hengtong Optic-Electric's largest shareholder is privately owned Hengtong Group with a 15.66% stake. Hengtong Group's founder and owner Cui Genliang is the second-largest shareholder with 14.95%.
Hengtong Group on its website said it is China<\/a>'s biggest solutions provider in fibre-optic networks and smart electricity grids, with over 70 subsidiaries at home and abroad, including Indonesia-listed cable maker PT Voksel Electric Tbk.
Hengtong Optic-Electric booked 2018 net profit of 2.5 billion yuan on revenue of 33.9 billion yuan, according to its annual report. It has delivered over 10,000 kilometres of undersea cables, including for projects in Papua New Guinea, Chile, Bolivia and Mexico, the annual report showed.
Trading of Hengtong Optic-Electric shares was suspended on Monday pending deal discussions.
($1 = 6.9014 Chinese yuan renminbi)
(Reporting by Sijia Jiang; Editing by Christopher Cushing)
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香港-华为技术有限公司计划出售其海底电信电缆业务,显示买方申请周一,以来首次重大资产出售美国挑起的指责中国公司作为一个间谍的工具。
恒通分析有限公司光学通信网络产品公司总部位于江苏省,在文件中称,上海证券交易所签署了意向书与华为技术子公司华为科技投资有限公司5月31日购买其51%的股份华为海洋系统有限公司通过现金和股票发行。
华为拒绝提供路透社的采访时立即置评。的潜在销售之际,华为的主要业务生产和销售全球电信网络设备和智能手机正在密切关注美国致力于说服盟友,华为的产品构成安全风险。
华为曾表示,不会与任何中国政府请求访问其情报系统的目的。即便如此,美国商务部上个月实施了贸易禁令,可能会大大破坏其供应链。
今年3月,《华尔街日报》援引美国安全官员的话说,疑似安全风险扩展到海底电缆由华为海洋。
海底电缆是全球互联网流量的支柱。华为已经获得的市场份额由美国公司SubCom,日本NEC Corp .)和欧洲的阿尔卡特-朗讯、华为海洋成立于2008年以来与英国合资的全球海洋。
华为海洋全球参与90项目和建造50361公里(31293英里)的电缆,其网站显示,包括一个6000公里的电缆连接非洲和南美洲第一次在去年9月完成。
预定2018年净利润为1.15亿元(1666万美元)的营收为3.94亿元,根据华为技术有限公司的年度报告。
年度报告还显示华为技术获得了多数投票权华为海洋的董事会在2018年8月,与全球海洋保留49%的非利益。
全球海洋没有立即回复电子邮件周一的置评请求,并调用其亚太地区办事处在新加坡没有回答。
交换文件显示,恒通分析最大的股东是私有恒通集团持有15.66%的股份。恒通集团的创始人和所有者崔Genliang第二大股东,持有14.95%。
恒通集团在其网站上说中国最大的光纤网络和智能电网解决方案提供商,与国内外70多个子公司,包括Indonesia-listed电缆制造商PT Voksel电动Tbk。
恒通分析预定2018年净利润25亿元的营收为339亿元,根据其年度报告。了超过10000公里的海底电缆,包括项目在巴布亚新几内亚,智利、玻利维亚、墨西哥、年度报告显示。
恒通分析股价周一停牌交易等待交易的讨论。
(1美元= 6.9014人民币元)
(完,思嘉江;编辑克里斯托弗·库欣)
By Sijia Jiang
HONG KONG - Huawei<\/a> Technologies Co Ltd plans to sell its undersea telecom cable business, showed a buyer's filing on Monday, in its first major asset sale since the United States ratcheted up accusations of the Chinese firm being a vehicle for espionage.
Hengtong Optic-Electric Co Ltd, an optical telecommunication network products company based in Jiangsu province, said in the filing to the Shanghai Stock Exchange that it signed a letter of intent with Huawei Technologies subsidiary Huawei Tech Investment Co Ltd on May 31 to buy its 51% stake in Huawei Marine Systems Co Ltd via cash and share issuance.
The filing did not disclose a price.
Huawei Technologies declined to provide immediate comment when contacted by Reuters. The potential sale comes as Huawei's main business of making and selling telecom network equipment and smartphones is under intense global scrutiny as the United States works to persuade allies that Huawei's products pose a security risk.
Huawei has said it would not cooperate with any Chinese state request to access its systems for intelligence purposes. Even so, the U.S. Commerce Department imposed a trade ban last month that threatens to significantly disrupt its supply chain.
In March, The Wall Street Journal cited U.S. security officials as saying the suspected security risk extended to undersea cables built by Huawei Marine.
Undersea cables are the backbone of global internet traffic. Huawei has been gaining share in the market dominated by U.S. firm SubCom, Japan's NEC Corp and Europe's Alcatel-Lucent, since Huawei Marine was established in 2008 as a joint venture with Britain's Global Marine.
Huawei Marine has participated in 90 projects worldwide and built 50,361 kilometres (31,293 miles) of cables, its website showed, including a 6,000 km cable connecting Africa and South America for the first time completed in September last year.
It booked 2018 net profit of 115 million yuan ($16.66 million) on revenue of 394 million yuan, according to Huawei Technologies' annual report.
The annual report also showed Huawei Technologies gained majority voting rights on Huawei Marine's board in August 2018, with Global Marine retaining a 49% non-controlling interest.
Global Marine did not immediately respond to an emailed request for comment on Monday, and calls to its Asia-Pacific office in Singapore were not answered.
According to exchange filings, Hengtong Optic-Electric's largest shareholder is privately owned Hengtong Group with a 15.66% stake. Hengtong Group's founder and owner Cui Genliang is the second-largest shareholder with 14.95%.
Hengtong Group on its website said it is China<\/a>'s biggest solutions provider in fibre-optic networks and smart electricity grids, with over 70 subsidiaries at home and abroad, including Indonesia-listed cable maker PT Voksel Electric Tbk.
Hengtong Optic-Electric booked 2018 net profit of 2.5 billion yuan on revenue of 33.9 billion yuan, according to its annual report. It has delivered over 10,000 kilometres of undersea cables, including for projects in Papua New Guinea, Chile, Bolivia and Mexico, the annual report showed.
Trading of Hengtong Optic-Electric shares was suspended on Monday pending deal discussions.
($1 = 6.9014 Chinese yuan renminbi)
(Reporting by Sijia Jiang; Editing by Christopher Cushing)
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