CHENGDU, Dec. 2 (NBD) -- HeT (002402.SZ, closing at 1.57 dollars on Thursday) announced Thursday night to issue less than 101,879,300 shares to no more than 10 particular objects through non-public offering, 10.11 yuan (about 1.47 dollars) per share. The funds raised shall not exceed 1.03 bln yuan (about 150 mln dollars).

The capital raised will be invested to build a manufacturing and operational base in the Yangtze River Delta region, develop electronic manufacturing automation and a big data operation & control platform system, promote the intelligent hardware portfolio R&D and industrialization, establish a big data platform system for smart life and supplement working capital.

Before the issuing, Liu Jianwei, the actual controller of HeT, directly holds 188,475,000 shares, accounting for 22.70%; the second largest shareholder, CDF-HeT Investment, holds 9.64% of HeT stocks. Since Liu and CDF-Het are persons acting in concert, Liu is the actual controller of HeT, controlling 32.34% stocks. After the private placement, Liu will remain the actual controller of HeT.

At closing of this issuing, the net asset of HeT will go up whereas its liability rate goes down. When the private placement finishes and the intended construction projects are realized, the company’s competitiveness, profitability and sustainability will be enormously enhanced. HeT’s leadership in intelligent controller and smart home industries will be consolidated.

HeT was formed on the capital and technology from Tsinghua University and Harbin Institute of Technology, two of the most famed universities in China. After developing and accumulating for more than ten years, it has grown to become one of the most influential enterprises in the area of home appliances controls.