Yuanxin Satellite Completes RMB 6.7 Billion Series A Financing

Recently, Shanghai Yuanxin Satellite Technology Co., Ltd. (Yuanxin Satellite) completed a RMB 6.7 billion Series A financing. This round of financing was led by the National Development and Reform Commission Manufacturing Transformation and Upgrading Fund, and Haitong Securities' Haitong Creative participated in the investment. Shanghai Lianhe Investment continued to support as a founding shareholder. The funds raised will be mainly used for low-orbit satellite constellation construction, corporate technology research and development, market development and daily operations.