Recently, according to information released by Tianyancha APP, Weifu Zhigan (Wuxi) Technology Co., Ltd. announced that it had invested in the establishment of financing. The amount of financing was not disclosed. The institutions participating in the investment included China Merchants Venture Capital, Boyuan Capital, Weifu Hi-Tech, and Xinshang Investment.
Weifu Zhigan is a developer of intelligent sensing core modules and a subsidiary of WEIFU HIGH-TECHNOLOGY GROUP CO.,LTD., which has received all of Weifu Hi-Tech's millimeter-wave radar technology and production experience. The product line covers 3D radar, 4D imaging radar and other products, and has achieved small-batch market applications in many fields such as in-vehicle cabin monitoring, security monitoring, and mining safety.
Regarding the equity structure of Weifu Zhigan, according to Weifu Hi-Tech's previous announcement, Weifu Hi-Tech invested a total of 215 million yuan (accounting for 61.43%) with assets valued at 137 million yuan and cash of 78 million yuan, Boyuan Private Equity invested 50 million yuan (accounting for 14.29%), J Fund invested 50 million yuan (accounting for 14.29%), Xinqin Investment invested 10 million yuan (accounting for 2.86%), and A Partnership invested 25 million yuan (accounting for 7.13%). Weifu Zhigan, as a holding subsidiary of Weifu Hi-Tech, is included in the company's consolidated financial statements.
Weifu Hi-Tech said that with the continuous development and popularization of autonomous driving technology, perception technologies such as millimeter-wave radar will play an increasingly important role in the future automotive industry and have huge market development space. The company officially launched millimeter-wave radar technology research and development and business incubation in early 2018 and entered the commercialization acceleration stage in 2022, forming strategic partnerships with many manufacturers and promoting specific projects. Currently, the development of 3D radar and 4D imaging radar is progressing steadily and the supply capabilities are becoming increasingly mature.
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