On September 4th, information from the Tianyancha App revealed that Shanghai Yuanxin Satellite Technology Co., Ltd. has recently undergone changes in its industrial and commercial registration. This development includes the addition of prominent new shareholders, namely Hangzhou Alibaba Venture Capital Co., Ltd. and Shanghai Automotive Group Financial Holdings Management Co., Ltd., which is a wholly-owned subsidiary of SAIC Motor. Following these changes, the company's registered capital has surged to approximately 2.484 billion yuan, with the paid-in capital currently standing at around 2.138 billion yuan.

Established in March 2018, Yuanxin Satellite, under the leadership of its legal representative Zhang Qi, operates as a state-controlled enterprise. It specializes in the telecommunications, broadcasting, television, and satellite transmission services sectors. The company's diverse business scope encompasses satellite communication services, as well as the measurement, operation, and control of micro/small satellites. Notably, Yuanxin Satellite is recognized as the construction and operational entity behind the commercial low-Earth orbit satellite constellation known as the 'Qianfan Constellation.' This investment signifies a strategic move by Alibaba and SAIC to bolster their presence in the burgeoning satellite technology sector.