On August 3, Fangqing Technology announced that the company has recently completed the A1 round of financing, with a valuation exceeding 10 billion yuan. This round of financing involved investment from Xuhui Capital, a state-owned platform in Xuhui District of Shanghai, two major local industrial strategic investments from the Zhuhai Science and Technology Industry Group, a state-owned subsidiary of Zhuhai, China Finance Capital and Cathay Pacific Haitong Creative Investment, and industrial capital such as Shangshi Capital, Mizuki Venture Capital, and Mingjia Capital under the listed company Jiu'an Medical. Among the old shareholders, Junshan Capital raised large sums of money, while Duowei Capital, Huaye Tiancheng, Lingang Science and Technology Venture Capital, C&D Xinxing, and 37 Mutual Entertainment simultaneously overinvested. The company's current round of financing will mainly be used for R&D of self-developed chips and systems, large-scale mass production, software ecosystem construction, and introduction of high-end talents.

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