Douyin's subsidiary, Xingluo Shiguang Company, increased its capital to approximately 18.78 billion.

According to Tianyancha's business information, recently, Shenzhen Xingluo Shiguang Technology Co., Ltd. has undergone a business change, with its registered capital increasing from approximately 9.51 billion RMB to approximately 18.78 billion RMB, representing a 97% increase. The company was established in September 2022, with Shi Yulei as the legal representative. Its business scope includes technical services, technical development, technical consultation, technical exchange, technology transfer, technology promotion, and information system integration services. Shareholder information shows that the company is wholly owned by Douyin Group Limited. It is worth mentioning that the company has increased its capital three times in the past six months, with its registered capital rising from 1.765 billion RMB to approximately 18.78 billion RMB.