Beidou Xing Tong: plans to use its own funds of 167 million yuan to increase capital to its subsidiary Zhen Dian Technology

On October 24th, Jin10 Data reported that Beidou Satellite Navigation announced that the company plans to increase its holdings in its subsidiary Zhendian Technology with its own funds of RMB 167 million, and the amount of the capital increase accounts for 3.00% of the audited net assets of the company in 2023. After the capital increase, the registered capital of Zhendian Technology will be RMB 261 million, and other shareholders will not increase their capital in proportion. Zhendian Technology mainly engages in GNSS data operation and service business, and is an important part of the company's construction of the "Intelligent Positioning Digital Base Station". The aim of this capital increase is to seize the market opportunities of high-precision GNSS data services, implement the "Cloud + Chip" development strategy, continuously build a global high-precision GNSS data service platform for Beidou, and support the business development of Zhendian Technology.