Shanghai Spacecom Satellite Technology Ltd. announced that it has received CNY 6,500,000,000 led by new investors National Manufacturing Transformation and Upgrading Fund (NMTUF) on February 1, 2024. The transaction included participation from other new investors Shanghai authority-linked Guosheng Capital, Hengxu Capital, backed by Chinese state-owned car maker SAIC, and CAS Capital, a different investment firm associated with Chinese Academy of Sciences, Asiainfo Security Technologies and Shanghai Alliance Investment.