news

Important investment and financing news in the hard technology sector this week include: Ministry of Industry and Information Technology: Orderly promote the reform of the satellite Internet business access system; "Special Action Plan to Promote Large-Scale Equipment Updates in Shanghai's Education Sector" was issued; Xiaopeng Huitian completed US$150 million in Series B financing.

""policy

SASAC: Give full play to the role of central enterprises as the main force in purchasing and using key areas of scientific and technological innovation such as satellite navigation, chips, high-end CNC machine tools, and industrial robots

The State-owned Assets Supervision and Administration Commission of the State Council issued the "Guiding Opinions on Standardizing the Procurement Management of Central Enterprises". For innovative products and services produced by original technology source enterprises, innovation consortia, and start-up enterprises, the first equipment, first batch of materials, first version of software listed in the relevant lists of the Ministry of Industry and Information Technology and other departments, and the results of the "Recommended Catalog of Scientific and Technological Innovation Results of Central Enterprises", while taking into account the economic efficiency of the enterprise, negotiation or direct procurement can be used for procurement, and enterprises are encouraged to reserve procurement shares and use them first. When the first equipment, first batch of materials, and first version of software participate in procurement activities, they only need to submit relevant certification materials, which is deemed to meet the requirements of market share and performance, and central enterprises shall not set discriminatory evaluation standards. In key areas of scientific and technological innovation such as satellite navigation, chips, high-end CNC machine tools, industrial robots, and advanced medical equipment, the central enterprises should give full play to their role as the main force in procurement and use, and take the lead in using innovative products.

Ministry of Industry and Information Technology: Further pilot expansion of value-added telecommunications services and orderly promotion of satellite Internet service access system reform

The Ministry of Industry and Information Technology issued opinions on innovating the management of the information and communications industry and optimizing the business environment, accelerating the revision of the "Telecommunications Business Classification Catalog", promoting business classification and definition to better meet the needs of the development of new technologies and new businesses, and supporting the innovative development of enterprises. Coordinate the commercial pilot of new telecommunications services, and support relevant regions and enterprises to carry out business innovation in an orderly manner under the premise of ensuring the bottom line of safety. Accelerate the formulation of supporting policies for the innovative development of new technologies and new businesses, and encourage enterprises to further deepen technological innovation and industrial applications in emerging fields such as 5G, artificial intelligence, and quantum information. Promote the formation of a new situation of high-level opening up to the outside world, and further pilot the expansion of value-added telecommunications business opening. Deepen the opening of telecommunications services to private capital, increase support for private enterprises to participate in mobile communications resale and other business and service innovation, and orderly promote the reform of the satellite Internet business access system to better support the development of private telecommunications enterprises.

"Special Action Plan for Promoting Large-Scale Equipment Renewal in the Education Sector of Shanghai" was issued

The Shanghai Municipal Education Commission issued the "Special Action Plan for Promoting Large-Scale Equipment Updates in the Education Field of Shanghai", which pointed out that it is necessary to promote the configuration of teaching equipment in key disciplines and special fields of colleges and universities, and accelerate the replacement of advanced teaching equipment. Focus on strategically urgent and emerging fields such as integrated circuits, artificial intelligence, quantum technology, life and health, aerospace, materials, energy, and new engineering, new medicine, new agriculture, and new liberal arts. Update equipment that does not meet teaching needs, whose performance cannot meet the relevant configuration standards for teaching, or affects safety of use, and has reached the minimum service life. Support the updating and transformation of teaching equipment in key disciplines and special fields of colleges and universities through "Double First-Class" construction funds. Support the updating and transformation of instruments and equipment in basic teaching laboratories of municipal public universities, consolidate the main responsibilities of municipal public universities, encourage and guide municipal public universities to raise funds through multiple channels, and continuously improve the basic conditions of basic teaching laboratories.

》》Primary Market

Tencent participated in the $300 million financing of the large-scale model unicorn Dark Side of the Moon? Insider: It is true

Recently, there was news that Tencent participated in the $300 million financing of Moonshot AI, a domestic large-scale model unicorn and Kimi smart assistant developer, which increased the company's valuation to $3.3 billion. In this regard, a person familiar with the company told the reporter of "Science and Technology Innovation Board Daily" that the news of Tencent's participation in the investment was true. In response to the reporter of "Science and Technology Innovation Board Daily", Moonshot AI said that it would not comment on the financing news.

Zero One Thing Completes Hundreds of Millions of Dollars in Series A+ Financing

Beijing Zero One Everything Technology Co., Ltd. recently completed a round of A+ financing of hundreds of millions of dollars. This round of financing will be used to enhance its AI large model research and development application service capabilities. Zero One Everything is a company that focuses on self-developed large models and is committed to building AI2.0 platforms and applications. Previously, the company had completed angel rounds and A rounds of financing.

Xpeng Huitian completes USD 150 million Series B financing

Recently, Guangzhou Huitian Aerospace Technology Co., Ltd. (Xpeng Huitian) completed a $150 million Series B financing. This round of financing will be used for the research and development and market expansion of smart electric flying cars. Xiaopeng Huitian is a developer of low-altitude manned aircraft focusing on urban air mobility (UAM), and is committed to creating the world's safest smart electric flying cars. Previously, Xiaopeng Huitian had completed its Series A financing.

Fengfei Aviation Technology received hundreds of millions of dollars in Series B financing

Recently, Shanghai Fengfei Aviation Technology Co., Ltd. (Fengfei Aviation Technology) completed a round B financing of hundreds of millions of dollars, and the investor in this round was CATL. Fengfei Aviation Technology is a technology company focusing on the research and development and manufacturing of autonomous aircraft. It was founded in 2017 and is headquartered in Shanghai. It has more than 300 employees, of which more than half are technical R&D personnel. The funds from this round of financing will be used to further promote its technology research and development and market expansion in the aerospace field. Previously, Fengfei Aviation Technology had completed its A round of financing.

Zuolan Microelectronics completed a B+ round of financing of approximately RMB 100 million

Recently, Zuolan Microelectronics (Jiangsu) Electronic Technology Co., Ltd. completed a B+ round of financing of approximately RMB 100 million. The investors in this round are Donghai Investment and Tianning Chengfa. The funds from this round of financing will be used to improve product performance and reliability and further expand the market. Zuolan Microelectronics is a high-tech enterprise focusing on the research and development, design, production and sales of RF filters. Its products are widely used in 5G communications, the Internet of Things, automotive electronics, micro base stations and other fields. Since its establishment, Zuolan Microelectronics has gone through multiple rounds of financing, including angel rounds, Pre-A rounds, A rounds and B rounds.

Kuandeng Technology Completes B+ Round of Financing of Approximately RMB 100 Million

Recently, Kuandeng Technology completed a B+ round of financing of about RMB 100 million. The investors in this round are Rongtai Venture Capital and Deqing County Industrial Development Investment Fund Co., Ltd. The funds raised in this round will be used to promote the widespread application of autonomous driving. Kuandeng Technology is a domestic high-precision map service provider. Its core technologies include deep learning, image recognition, and 3D vision. Since its establishment, the company has completed multiple rounds of financing, including angel rounds, A rounds, A+ rounds, and B rounds.

Bluestar Light Domain Completes B1 Round of Financing of Over 100 Million Yuan

Bluestar Optical, a full-scenario laser communication manufacturer, has completed its B1 round of financing, which was jointly invested by Shenzhen Capital Group, Puhua Capital, Tuofeng Capital and Chunyang Capital, with a financing amount of nearly 150 million yuan. This round of funds will mainly be used for mass production preparation, production line expansion and subsequent research and development of the "satellite laser communication" series of products.

Core Interconnect completes over RMB 300 million in Series C financing

Core Interconnect Technology (Qingdao) Co., Ltd. completed a C round of financing of over RMB 300 million on August 7, 2024. Investors in this round include CICC Capital, Zhongshan Torch Development Zone Science and Technology Innovation Industry Fund and Guangzhou Zengcheng District Industrial Investment Group Co., Ltd. Founded in December 2018, Core Interconnect is a national high-tech enterprise focusing on the design of digital-analog mixed signal chain chips. Its products include high-precision data converters, voltage reference sources, clock generators, etc. In the past two years, Core Interconnect has achieved phased results, launched hundreds of chip products, and has been widely used in power, rail transit, intelligent manufacturing and other fields. Previously, Core Interconnect also completed seed rounds, A rounds and B rounds of financing.

Yunshenchu ​​receives Series C investment

Recently, the industrial and commercial change information shows that Hangzhou Yunshenchu ​​Technology Co., Ltd. (DeepRobotics) has completed its C round of financing, with new investors including Hansong Asset Management, Huajian Function Investment, Shenzhen Zhicheng Group and Moganshan High-tech Investment. Yunshenchu ​​is a technology company focusing on the research and development of intelligent quadrupedal robot products. Its founding team is composed of personnel from Zhejiang University, who have rich experience in the research and development of legged robots.

》》Secondary Market

Nanochip: Terminates Intention to Acquire 67.60% of Quantum Micro's Shares

Naxin Micro announced that the company's intention agreement to acquire 67.60% of Quantum Micro's shares has been terminated. On July 17, 2023, the company signed a "Share Acquisition Intent Agreement" with some shareholders of Quantum Micro, planning to acquire 33.63% of Quantum Micro's shares in cash, and then signed an agreement with other shareholders from July to August 2023 to acquire another 33.97% of the shares. Due to changes in the external market environment and other reasons, the parties to the transaction failed to reach a final consensus and decided to terminate the acquisition. This decision will not have an adverse impact on the company's operating performance and financial condition.

Huarui Precision: Plans to invest 360 million yuan to build a high-performance bar profile digital production line project

Huarui Precision announced that in order to promote the company's long-term development strategy and improve the company's product quality and market share, the company plans to use its wholly-owned subsidiary Huarui New Materials as the implementation entity to build a high-performance bar profile digital production line construction project in Zhuzhou Hetang High-tech Industrial Development Zone. The total investment of the project is expected to be about 360 million yuan. After the project is completed, it will add an annual production capacity of 1,000 tons of high-performance bars, further improving the company's main business capacity layout.

Haohan Deepin: Plans to acquire 35% equity of Guorui Digital Intelligence for RMB 126 million

Haohan Deep announced that the company plans to sign an "Equity Transfer Agreement" with Su Changjun, Guorui Digital Intelligence and other existing shareholders to acquire 35% of Guorui Digital Intelligence's equity with 126 million yuan in cash, and at the same time, through the entrusted exercise of the voting rights held or controlled by the transferor Su Changjun, it will control 74.6288% of the voting rights of Guorui Digital Intelligence and obtain its control. This transaction does not constitute a related transaction or a major asset reorganization. The company stated that this transaction is an important strategic measure for it to focus on its main business, enhance its sustainable operating capabilities, and enhance industrial synergy effects.

Shangsheng Electronics: Shangsheng Investment, a shareholder holding more than 5% of the shares, plans to reduce its holdings by no more than 600,012 shares

Shangsheng Electronics announced that Suzhou Shangsheng Investment Management Co., Ltd. (Shangsheng Investment), the company's largest shareholder holding more than 5% of the shares, plans to reduce its holdings by no more than 600,012 shares through centralized bidding and block trading. The reduction plan will be implemented within 3 months after 15 trading days from the date of the announcement. The reason for the reduction is that some shareholders of Shangsheng Investment have resigned. If there are restrictions on the window period for buying and selling stocks during the reduction period, the reduction of shares will be stopped. If the company has share changes such as bonus shares and capital reserve conversion to increase capital during the planned reduction period, the above number of shares will be adjusted accordingly.

Maixinlin: Shareholders Yili Suxin and Daofeng Investment intend to reduce their holdings in the company

Maixinlin announced that the company recently received a reduction plan notice from shareholders Yili Suxin and Daofeng Investment. Due to their own business needs, the two shareholders intend to reduce their holdings of the company's shares by a total of 2,908,532 shares. The reduction period is within three months after the fifteenth trading day from the date of the announcement of this reduction plan. Yili Suxin and Daofeng Investment hold 6,291,090 shares and 101,400 shares of the company respectively, accounting for 4.3260% and 0.0697% of the company's total share capital.

Junpu Intelligent: Plans to repurchase shares through centralized bidding for employee stock ownership plans or equity incentives

Junpu Intelligent announced that the company intends to repurchase shares by centralized bidding, with the total repurchase funds not less than RMB 30 million (inclusive) and not more than RMB 50 million (inclusive), and the source of funds is the company's own funds and over-raised funds. The repurchased shares will be used for employee stock ownership plans or equity incentives. The repurchase price shall not exceed RMB 5.8 per share (inclusive). The repurchase period shall not exceed 12 months from the date on which the company's board of directors deliberates and approves this repurchase plan.

Haitian Ruisheng: The controlling shareholder proposes to repurchase 10 million to 20 million yuan of shares

Beijing Haitian Ruisheng Technology Co., Ltd. announced that it has received a proposal from Ms. He Lin, the company's controlling shareholder, actual controller and chairman, to repurchase the company's shares. Based on her confidence in the company's future sustainable development and recognition of the company's value, Ms. He Lin proposed that the company repurchase shares through centralized bidding transactions, and all of them will be used for equity incentives or employee stock ownership plans at an appropriate time in the future. The total amount of funds for repurchased shares shall not be less than RMB 10 million (inclusive) and not more than RMB 20 million (inclusive), and the repurchase price shall not be higher than 150% of the average trading price of the company's shares in the 30 trading days before the company's board of directors deliberated and approved the repurchase plan. Ms. He Lin promised to vote in favor of the company's share repurchase proposal at the board meeting.