On April 28, Unigroup (000938) announced a revised private placement plan. It aims to raise up to RMB 5.57 billion ($770M) to acquire an additional 6.98% stake in H3C , buy R&D equipment, and repay bank loans.

Of the total, RMB 3.5 billion (484M)∗∗goestowardtheH3Csharepurchase.Afterthedeal,Unigroup’sownershipinH3Cwillrisefrom∗∗81484M)∗∗goestowardtheH3Csharepurchase.Afterthedeal,Unigroup’sownershipinH3Cwillrisefrom∗∗81735.99 per share , valuing H3C at roughly RMB 54.5 billion ($7.5B) .

H3C, Unigroup’s core earnings driver, delivered strong 2025 results: revenue RMB 75.98 billion (+37.96%) ; net profit RMB 3.15 billion. Market leadership: #1 in enterprise switches (36.1%) , #1 in enterprise WLAN (27.9%) , #3 in X86 servers.

The new R&D equipment will focus on next‑gen GPU servers, high‑end routers, and storage – reinforcing AI infrastructure capabilities. Loan repayment of RMB 1.67 billion will lower leverage and finance costs.

The offering won’t change control. Unigroup’s parent shareholding dips from 28% to 24.34%, still dominant. Short‑term EPS dilution expected, but long‑term profit and R&D strength will improve.

ICgoodFind: Unigroup tightens H3C control – AI compute assets and balance sheet both get a boost.