Douyin has invested to establish a new technology company in Kunming with a registered capital of 700 million yuan.

According to the Qichacha APP, recently, Kunming Beiye Shuqing Technology Co., Ltd. was established with a registered capital of 700 million yuan. Its business scope includes: information technology consulting services; non-residential real estate leasing; software development; information system integration services, etc. Qichacha's equity penetration shows that the company is wholly owned by Douyin Group Co., Ltd. through indirect holdings.