Yuanxin Satellite has completed a capital increase of nearly 7 billion yuan.

According to the Shanghai United Assets and Equity Exchange, on August 17, Shanghai Yuanxin Satellite Technology Co., Ltd. completed its capital increase project, introducing a total of 18 investors, with a total capital increase amount reaching 6.976 billion RMB and an aggregate new shareholding ratio of 13.94%. Among them, the largest investor in terms of capital increase is the National Adjustment Phase II Coordinated Development Fund Co., Ltd. along with 24 other partners, contributing about 5.764 billion RMB for an 11.5167% equity stake. Based on the latest financing amount and shareholding ratio, Yuanxin Satellite is valued at 50 billion RMB. Yuanxin Satellite is the operating entity of the Qianfan Constellation, which as of July 5, has a total of 238 satellites in orbit.