Huaxing Capital Holdings (01911) subsidiary successfully assisted Lingchuan Technology in completing Series B financing of 1 billion yuan

According to the Zhitong Finance App, Huaxing Capital Holdings (01911) announced that the company's holding subsidiary Huaxing Securities Co., Ltd. (Huaxing Securities) acted as a financial advisor to successfully assist Beijing Lingchuan Technology Co., Ltd. (Lingchuan Technology) in completing Series B financing of RMB 1 billion.

A number of investment institutions and industry investors participated in this round of financing, and continued additional investment from some existing shareholders. According to Lingchuan Technology, the financing proceeds will mainly be used for next-generation chip R&D and mass production and global market expansion.

According to its public disclosure, Lingchuan Technology was co-founded by the Beijing Artificial Intelligence Foundation and Kuaishou Group. Its predecessor was Kuaishou Group's Heterogeneous Computing and Chip Division, which was spun off and operated independently in March 2024. Lingchuan Technology focused on developing underlying computing power chips for large multi-modal models such as smart video and generative video. Its self-developed SL200 smart video chip has been commercialized on a large scale, and has been deployed and applied by many leading Internet companies. Lingchuan Technology also continues to improve the full-stack capabilities of its chips, software and platforms.

The Group is honored to assist Lingchuan Technology in completing this round of financing. The transaction reflects the Group's financial advisory service capabilities in the field of artificial intelligence and semiconductors, as well as the resource advantages connecting innovative companies with diversified investment institutions. The Group will continue to assist innovative companies to achieve their strategic and financial goals.