iFlytek and other investors establish a new material technology company.

According to the Qichacha APP, recently, Anhui Red Star New Materials Technology Co., Ltd. was established, with Tang Lixiang as the legal representative and a registered capital of 20 million yuan. Its business scope includes: research and development of new material technology, promotion of new material technology services, paper manufacturing, ecological environmental material manufacturing, and bio-based material manufacturing. Equity penetration by Qichacha shows that the company is wholly owned by China Xuanzhi Paper Co., Ltd., which is jointly owned by Xuancheng Industrial Investment Group Co., Ltd. and iFlytek.