Tsinghua Unigroup affirmed its restructuring plan in an announcement earlier on December 11. After rounds of selection of investment programs for restructuring built on a selective mechanism under court supervision and instruction, a consortium led by Beijing Wise Road Asset Management Co., Ltd. and Beijing Jianguang Asset Management Co. Ltd. has been finalized as the strategic investor for substantive consolidation of seven enterprises including Tsinghua Unigroup. Tsinghua Unigroup will advance concluding an investment agreement on bankruptcy reorganization, drafting a plan for restructuring, etc. jointly with the strategic investor by law.
And as per relevant laws and regulations, the drafted restructuring plan shall not go into effect until being adopted at the meeting of creditors and approved by the people's court.