Talkweb establishes special fund account for HarmonyOS R&D

Talkweb Information System Co., Ltd. (Talkweb) has announced the establishment of a new special account for its raised funds and the signing of a tripartite regulatory agreement. This follows approval from the China Securities Regulatory Commission (CSRC) for Talkweb's non-public issuance of 147,250,800 A-shares at an issue price of 6.22 yuan per share. The total raised funds amounted to 915,899,976.00 yuan, with a net amount of 906,848,778.01 yuan after deducting issuance expenses. These funds were deposited into the company's designated account on September 10, 2021.

The new special account was opened by a subsidiary of Talkweb at Changsha Bank Co., Ltd. Yinde Sub-branch, with account number 810000557503000001. This account is specifically designated for research and development projects based on HarmonyOS industry versions. The tripartite regulatory agreement, signed by Talkweb, its subsidiary, Changsha Bank, and CITIC Securities Co., Ltd. (as the sponsor institution), ensures strict oversight and management of these funds.

The agreement specifies that the special account will be used exclusively for storing and utilizing funds for the approved investment projects, prohibiting other uses. Talkweb can deposit a portion of the funds into time deposits or other reasonable deposit methods, provided these are not pledged or transferable. The agreement mandates regular reporting, with the bank providing monthly statements to Talkweb and the sponsor, and immediate notification for withdrawals exceeding 50,000,000 yuan or 20% of the net raised funds.