NewRich Announces Successful Completion of Angel Round Financing

Shenzhen Newray Technology Co., Ltd. (hereinafter referred to as "Newray"), a communications chip designer, announced the successful completion of its angel round of financing. This round of financing was led by Xinyun Venture Capital. The funds will be mainly used for the company's RF and analog hybrid chip technology platform research and development and iteration, as well as the industrialization of two key 5G and IoT communication positioning chips: 5G RF antenna intelligent tuning and UWB positioning communication.