Tsinghua Unisplendour and Hewlett-Packard Company to Create "Xinhua III"


· Ziguang Co., Ltd., a subsidiary of Tsinghua Holdings, acquired 51% of the shares of “Xinhua San” Co., Ltd.

· "Xinhua III" will include the original HP subsidiary H3C and HP's server, storage and technology services business in China

· "Xinhua III" will be the exclusive provider of HP server, storage, networking products and hardware support services in China

Beijing, China, May 21, 2015 – Tsinghua Holdings and Hewlett-Packard Co., Ltd. today announced a partnership that will combine the strengths of HP and Tsinghua University, a leading Chinese university, to create a leading enterprise in China's information technology.

According to the agreement, Ziguang Co., Ltd. ("Ziguang Shares"), a subsidiary of Tsinghua Holdings Co., Ltd. ("Tsinghua Holdings"), acquired 51% of the shares of Hewlett-Packard Co., Ltd. of Hewlett-Packard Company for not less than US$2.5 billion. Become the controlling shareholder of the company. "Xinhua III" will include the server, storage and technology services business of HWC and HP China Ltd. ("China Hewlett-Packard"), a wholly-owned subsidiary of Hewlett-Packard Co., with a total valuation of approximately US$4.5 billion (excluding cash and liabilities). . "Xinhua III" ranks among the top in China's IT market segments, with network products ranking first, and server, storage and technology services leading the market.

Hewlett-Packard is optimistic about the long-term sustainable development opportunities in the Chinese market. Hewlett-Packard and Tsinghua Holdings have combined with the advantages of Tsinghua University, a famous Chinese institution of higher learning, to create the “Xinhua III”. China HP will continue to have 100% of its corporate services, software, HP Helion Cloud, Aruba networking products and printing and personal systems businesses in China.

Meg Whitman, chairman, president and chief executive officer of Hewlett-Packard, said: "HP is bold in the Chinese market and has achieved success. Tsinghua University is one of China's most respected universities and established with Tsinghua University. The partnership, 'Xinhua III' will be able to better innovate in China and innovate in China. 'Xinhua III' will have strong patented technology, first-class products, user-centered service model and Tsinghua's outstanding scientific research strength. This will greatly promote the growth of HP and H3C's overall business, allowing us to better serve users and partners."

Zhao Weiguo, chairman of Tsinghua Unisplendour Group, said: "Hua San Communication is one of the best network vendors in China. China's HP server, storage and technical services also have excellent technical foundation and leading market position. After the transaction is completed, Tsinghua University Ziguang will become the controlling shareholder of 'Xinhua III', which indicates that 'Xinhua III' has officially become a member of the national information technology industry. This is not only important for implementing the nationally controllable information industry development strategy and safeguarding national network information security. It also provides a broader market opportunity for the future development of 'Xinhua III'. Tsinghua Unisplendour has a long history of cooperation with HP and H3C of China, and has significant synergy with 'Xinhua III'. Tsinghua University is strong Scientific research capabilities and a strong talent pool will provide more growth momentum for 'Xinhua III'. We look forward to establishing a long-lasting partnership with HP."

“Xinhua III” revenue of approximately US$3.1 billion (adjusted) in fiscal 2014, operating profit of US$400 million (adjusted GAAP profit of US$300 million), with approximately 8,000 employees, including more than 2,500 outstanding engineers Committed to providing customized and differentiated technology solutions to users, with more than 5,700 patents. “Xinhua III” will become the leading converged infrastructure solution and technology service provider in the Chinese market, providing Chinese customers with complete enterprise-level IT solutions, including network, server, storage and technical services. "Xinhua III" will carry forward the innovation tradition of H3C and continue to maintain the localized, all-round, user-centric service model of H3C.

Upon completion of the acquisition, “Xinhua III” will become the exclusive provider of HP server, storage, networking products and hardware support services in China. The core management team of the original H3C and China's HP server, storage and technology services business will continue to be relatively stable. The former China HP leader will continue to lead HP's business in China.

Tsinghua Holdings is an asset management company of Tsinghua University, a famous Chinese institution of higher learning. Ziguang is a Chinese A-share listed company and one of the leading software vendors and system integrators in China. Since 1999, it has become a long-term strategic channel partner of Hewlett-Packard.

The transaction is expected to be completed by the end of 2015, subject to the approval of the Ziguang Shareholders' General Meeting and the completion of the relevant government departments for approval.

About HP

Hewlett-Packard is committed to stimulating the unlimited potential of technology and creating positive impacts for individuals, businesses, governments and society. With the broadest portfolio of technology products, including print, personal computing, software, services and IT infrastructure, HP provides solutions to customers in all regions of the world to help them meet the most complex challenges. For more information on HP (NYSE: HPQ), please visit http://.

About Tsinghua Unisplendour

Ziguang Group is the main high-tech enterprise group under Tsinghua Holdings. Ziguang (Shenzhen Stock Exchange: 000938) is a Chinese A-share listed company controlled by Ziguang Group. Relying on Tsinghua University's strong technology, talents and multi-disciplinary advantages, Tsinghua Unisplendour has become a well-known high-tech enterprise and representative and banner of China's university industry. The industry covers many fields such as integrated circuits, IT services and cloud computing. Ziguang is also a leading software and systems integration provider in China. In the future, Tsinghua Unisplendour will take the “world-class high-tech industry group” as its vision and join hands with employees, customers and partners to create brilliant future. For more information on Tsinghua Unisplendour, please visit http://

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