Douyin established a new information technology company in Shenzhen.

According to the Enterprise Check App, Shenzhen Yunqi Intelligent Information Technology Co., Ltd. was recently established, with Zhang Zhongyi as the legal representative and a registered capital of 10 million RMB. Its business scope includes accepting commissions from financial institutions to engage in information technology and process outsourcing services, advertising production, data processing, and storage support services. Equity penetration information on Enterprise Check shows that the company is indirectly wholly owned by Douyin Group Limited.