Yuanxin Satellite Raises RMB 6.976 Billion from 18 Investors at RMB 50 Billion Valuation

Shanghai Yuanxin Satellite Technology Co. , Ltd. completed its capital increase project on August 17, bringing in 18 investors with total proceeds of RMB 6.976 billion, representing a combined 13.94% increase in shareholding. Among them, a consortium of 24 investors including Guotiao Phase II Collaborative Development Fund Co. contributed approximately RMB 5.764 billion for an 11.5167% equity stake. Based on the latest financing amount and shareholding ratio, Yuanxin Satellite is valued at RMB 50 billion.

Yuanxin Satellite is the operating entity of the Qianfan Constellation. As of July 5, the constellation had 238 satellites in orbit.