Yuanxin Satellite Initiates New Round of Large Financing, Domestic Satellite Constellation Enters Fast Lane of Expansion

Yuanxin Satellite has successfully completed a round of financing where existing shareholders collectively hold no less than 80% of the shares, and new external investors collectively hold no more than 20%, while maintaining state-owned capital control. The Shanghai United Equity Exchange updated the capital increase plan of Shanghai Yuanxin Satellite Technology Co., Ltd. on June 22, revealing that Yuanxin Satellite plans to introduce no more than 3 new investors with a total investment of no less than 5 billion yuan. Following this financing round, the original shareholders of Yuanxin Satellite will collectively hold no less than 80% of the shares,…