Shanghai United Assets Exchange shows Shanghai Yuanxin Satellite Technology Co. completed a capital increase on Aug 17, bringing in 18 investors and 6.976 bln yuan of new capital that added 13.94% of equity. The largest investor was a 24-member consortium led by Guodiao Phase II Collaborative Development Fund Co., Ltd., which invested about 5.764 bln yuan for an 11.5167% stake. The financing implies an estimated valuation of 50 bln yuan. Yuanxin is the operator of the Qianfan satellite constella

Shanghai United Assets Exchange shows Shanghai Yuanxin Satellite Technology Co. completed a capital increase on Aug 17, bringing in 18 investors and 6.976 bln yuan of new capital that added 13.94% of equity. The largest investor was a 24-member consortium led by Guodiao Phase II Collaborative Development Fund Co., Ltd., which invested about 5.764 bln yuan for an 11.5167% stake. The financing implies an estimated valuation of 50 bln yuan. Yuanxin is the operator of the Qianfan satellite constellation; as of July 5 the constellation had 238 in‑orbit satellites.