NavInfo new subsidiary intends to increase capital and expand shares, such as Tencent, Wei Lai capital and so on.


NavInfo new subsidiary intends to increase capital and expand shares, such as Tencent, Wei Lai capital and so on.

On the evening of September 11, Sina Technologies News announced that its subsidiary Mapbar Technology Limited (hereinafter referred to as "Tuba BVI") was planning to increase its capital and share holdings by introducing investors such as Image Cyber, Top Grove, Ultra Capital and Advantech. Among them, Image Cyber is a subsidiary of Tencent and Shenzhen Tencent Industrial Investment Fund Co., Ltd. is the second largest shareholder.

Image Cyber intends to subscribe for RMB 200 million ($29.2624 million) in Tuba BVI's new 7,449,705 A-round preferred shares, with a post-investment holding of 7.488%; Top Grove intends to subscribe for RMB 200 million ($29.624 million) in Tuba BVI's new 7,449,705 A-round preferred shares, with a post-investment holding of 7.488%. Advantech plans to subscribe for $25 million in Tuba BVI's new 6,364,562 A-round preferred shares, with a 6.397% post-investment stake.

Weilai Capital plans to invest RMB 100 million yuan (US$14.63.12 million) in Tuba BVI's wholly-owned subsidiary, Beijing Tuba Technology Co., Ltd. (hereinafter referred to as "Beijing Tuba"), through domestic convertible bonds. At the same time, it will obtain a class A preferred stock and warrants equivalent to RMB 100 million yuan outside Tuba BVI. Ultimate Capital will exercise the warrant after it is approved by domestic regulators and will hold 3,724,852 Class A preferred shares of Tuba BVI.

After the capital increase of Image Cyber, Top Grove and Advantech was completed, the holdings of BVI in Tuba were reduced to 46.930%, and the holdings of BVI in Tuba, Beijing Tuba and its domestic companies controlled by the agreement were reduced to 46.930%. Beijing Four-dimensional Intelligence Union Technology Co., Ltd. (formerly known as Beijing Tuba First Technology Co., Ltd., hereinafter referred to as "Four-dimensional Intelligence Union") and Four-dimensional Intelligence Union Beijing Tengrui Wanli Technology Co., Ltd., Beijing Tengrui Wanli Information Technology Co., Ltd., Beijing Tengrui Wanli Information Technology Co., Ltd., Lian (China) Automobile Information System Co., Ltd., Shanghai Interesting Driving Information Technology Co., Ltd., Dalian Automobile First Technology Co., Ltd. (as a whole, hereinafter referred to as "Tuba Group") is no longer included in the public sector. The scope of merger. After Ultimate Capital exercises its hedge interest in Tuba BVI, the company's stake in Tuba BVI will be further reduced to about 45.173%.

Tuba BVI is a subsidiary of Four Dimensions Tuxin (Hong Kong) Limited (hereinafter referred to as "Four Dimensions of Hong Kong"). As of the date of disclosure, Hongkong Siwei holds a stake in BVI60.325%. A wholly owned subsidiary of Hongkong Siwei company.

At the eleventh meeting of the Fourth Board of directors held on September 7, 2008, the company considered and approved the "Bill on Mapbar Technology Limited's Acceptance of Investment and Related Party Transactions", and the related directors, Mr. Cheng Peng, Mr. Zhan Weibiao and Mr. Zhong Xiang-ping, avoided voting. The independent directors of the company made prior approval and issued independent opinions on the transaction.


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