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China Unicom has formulated plans to hive off its subsidiary, China Unicom Zhiwang Technology Co., Ltd., with the aim of having it listed on the ChiNext Market of the Shenzhen Stock Exchange. Once the separation is completed, China Unicom will continue to serve as the indirect controlling shareholder of Zhiwang Technology. The operational, financial, and profitability aspects of Zhiwang Technology will be incorporated into the consolidated financial statements of the listed entity. This strategic move of separating the subsidiary is poised to enable Zhiwang Technology to tap into the capital market effectively. By doing so, it can seize promising development opportunities in the connected vehicle industry, ramp up its investment in research and development, strengthen its market standing and brand equity, and establish a solid groundwork for achieving high - quality growth.
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